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Senco is gearing up for significant growth; plans to open 20 new stores this year

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Senco Gold & Diamonds, one of India’s leading jewelry retailers, is gearing up for significant growth in the fiscal year 2025. The company has announced plans to open 20 new stores this year, aiming for a 20% increase in its topline revenue. This expansion is part of its broader strategy to maintain consistent annual growth while catering to rising consumer demand.These details were provided by Suvankar Sen, MD and CEO of Senco Gold & Diamonds, during an interview with CNBC TV18.

The company experienced a challenging start to FY25, with weak demand for diamond jewelry during the first three quarters due to high gold prices. However, the fourth quarter saw a revival, with increased sales of 14-carat and 18-carat diamond jewelry. Senco Gold also noted that silver sales outpaced both gold and diamonds in volume and value, as consumers increasingly view silver as an investment and gifting option.

Senco Gold has embraced innovation by launching dedicated lab-grown diamond jewelry stores under its sub-brand “Sennes.” According to Suvankar Sen, Managing Director and CEO of the company, lab-grown diamonds are gradually carving out their own market. The company expects these products to gain traction within the next two years, especially in the small-ticket segment catering to everyday wear.

The reduction in gold import duties by 9% provided temporary relief to customers but affected Senco’s profitability in Q2 and Q3. Despite this, the company expects profit margins to stabilize by the end of FY25.

In addition to domestic growth, Senco Gold has ventured into international markets by opening a store in Dubai. This move aligns with its strategy to cater not only to Indian expatriates but also to global consumers who appreciate handcrafted Indian jewelry. The company is also diversifying its product portfolio under the Sennes brand by introducing luxury lifestyle products such as leather bags.

Future Outlook

Suvankar Sen remains optimistic about the future, citing strong demand during wedding seasons and evolving consumer preferences for lightweight, versatile jewelry. The company is also focusing on digital services like virtual try-ons and personalized designs to appeal to younger, tech-savvy customers.

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Hari Krishna Group’s 12th Amrit Ganga Tirth Yatra Brings 1,380 Members Together in a Celebration of Faith, Gratitude and Togetherness

The yatra includes 344 Radha Krishna couples, 490 employees’ parents, 310 parents-in-law, 54 organising committee members, 63 invited guests, 150 artists, 77 kitchen staff and 96 support staff

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For Hari Krishna Group, employees are never just employees; they are family. And when someone becomes part of the HK family, their parents become our parents too.

Living this belief for over a decade, Hari Krishna Group has commenced its 12th Amrit Ganga Tirth Yatra 2026, bringing together 1,380 members of the HK family on a spiritual journey to Haridwar and Rishikesh. More than an annual pilgrimage, the yatra is a heartfelt tribute to parents and elders whose love, sacrifices and blessings have shaped generations.

This year, the yatra includes 344 Radha Krishna couples, 490 employees’ parents, 310 parents-in-law, 54 organising committee members, 63 invited guests, 150 artists, 77 kitchen staff and 96 support staff, making it one of the most cherished traditions of the Hari Krishna Group. Every invitation reflects the organisation’s culture of treating employees and their families as one extended family.

Months of meticulous planning go into making this journey comfortable and memorable for every elder. From travel, accommodation and healthcare to meals, hospitality, sightseeing and daily assistance, every arrangement is thoughtfully planned so that participants can focus entirely on their spiritual experience with complete peace of mind.

The journey began with the traditional Vadil Vandana ceremony at the Group’s Surat and Mumbai offices, where elders were welcomed with shawls as a mark of honour. Employees also performed Pad Prakshalan, the sacred tradition of washing the feet of parents and elders, expressing gratitude for their lifelong sacrifices. Inspired by the timeless values of Shravan Kumar, employees accompany the senior members throughout the pilgrimage, ensuring they experience every moment with comfort, care and dignity.

Over the coming days, participants will take part in Rudra Abhishek, Ganga Snan, the divine Ganga Aarti at Har Ki Pauri, yoga and meditation sessions, spiritual discourses, cultural performances, recreational activities and tree plantation initiatives. The itinerary also includes visits to the sacred destinations of Rishikesh, Ram Jhula, Laxman Jhula, Janki Jhula, Mansa Devi and Chandi Devi, creating an enriching experience that beautifully blends spirituality, wellness and togetherness.

Speaking on the occasion, Savjibhai Dholakia, Visionary Founder and Chairman of Hari Krishna Exports, said:

“Every parent spends a lifetime creating a better future for their children. This yatra is our humble way of expressing gratitude to them. At Hari Krishna Group, we have always believed that our employees are family, and naturally their parents become our parents too. Their blessings are our greatest strength, and serving them is our greatest privilege. If we can bring smiles to their faces and create memories they cherish for a lifetime, we feel truly blessed.”

As the 12th Amrit Ganga Tirth Yatra begins, Hari Krishna Group continues to uphold a tradition where business and values walk hand in hand. More than a pilgrimage, the yatra is a living expression of gratitude, respect and togetherness, reminding every member of the HK family that while businesses may be built with vision, enduring legacies are built by honouring parents, preserving culture and staying rooted in family values.

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