National News
Senco is gearing up for significant growth; plans to open 20 new stores this year
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.
National News
Zithara.AI Partners With Palmonas To Strengthen AI Led Revenue Growth and Customer Engagement In Jewellery Retail
Collaboration To Enable Personalised Customer Engagement, Improve Retention, and Support Scalable Revenue Growth Through AI Native CRM
Zithara.AI, an AI-native customer engagement platform for offline retailers, announced a strategic partnership with Palmonas to enhance customer engagement through data-driven solutions across the brand’s retail operations.
As part of the partnership, Palmonas will implement Zithara.AI’s AI-native CRM platform to unify customer data across multiple touchpoints, enabling a single, consolidated view of customer interactions. The platform will support intelligent customer segmentation, automated engagement workflows, and personalised communication designed to improve customer retention and increase repeat purchases. The deployment is aimed at creating a more structured and consistent approach to customer engagement as the brand continues to scale.
The integration will allow Palmonas to capture and analyse customer data across online and offline touchpoints, enabling targeted campaigns, timely follow-ups, and more relevant communication across the customer lifecycle. By helping bridge the gap between digital customer enquiries and physical store visits, the platform will support improved customer conversions, strengthen retention, and enable more effective customer journeys that contribute to revenue growth.
Speaking about the partnership, Hitesh Magoo, CMO, Demifine Fashion Pvt. Ltd., said,
“At Palmonas, our focus has always been on creating meaningful customer experiences while expanding our retail presence. As more customers discover brands through digital channels, one of the biggest opportunities for offline retailers is converting that interest into store walk-ins and lasting customer relationships. We were looking for a platform that could intelligently manage customer engagement across multiple stores while helping us improve walk-in conversions and long-term customer retention. Zithara.AI’s AI-native platform aligns with these objectives by enabling more personalised customer interactions that support stronger conversions, increased store walk-ins, and sustainable revenue growth. We look forward to leveraging its capabilities to build deeper customer relationships as we continue to scale our retail footprint.”
Varun Kashyap, Co-Founder, Zithara.AI, said,
“We are pleased to partner with Palmonas as they continue to expand their retail presence. Our platform is built to help brands organise and leverage their customer data to drive structured, consistent, and personalised engagement. This partnership reflects the growing focus among offline retailers on using technology to strengthen customer relationships and improve retention.”
Sridevi Reddy, Co-Founder, Zithara.AI, added,
“Our focus is on enabling offline retailers to become more data-driven and customer-centric. Through this partnership, we aim to help Palmonas build stronger customer connections and deliver more personalised experiences at scale.”
The partnership marks a continued focus by Zithara.AI and Palmonas on leveraging AI-native capabilities to strengthen customer engagement and support revenue growth in offline retail environments. By integrating Zithara.AI’s platform, Palmonas aims to build a more connected, efficient and scalable customer engagement framework aligned with its growth plans.
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