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.
BrandBuzz
9 Special Gemstones for this Navratri By Irasva Fine Jewellery
Irasva brings together these versatile pieces to complement every festive look, from understated daytime celebrations to statement evening ensembles.
As Navratri celebrates nine days of devotion and tradition, Irasva Fine Jewellery presents a curated edit of nine jewels, each inspired by the colour of the day and designed to bring a touch of contemporary elegance to the festive season.
Navratri brings with it nine days of celebration, each associated with a distinct colour and its own symbolism. Marking the festive occasion, Irasva Fine Jewellery curates nine exquisite jewels that mirror the vibrant palette of Navratri, ranging from classic diamonds to vivid emeralds, rubies and sapphires.
Known for its contemporary approach to fine jewellery, Irasva brings together these versatile pieces to complement every festive look, from understated daytime celebrations to statement evening ensembles.
Navratri Colours Edit
Day 1 – Orange | Cirielle Diamond Fashion Pendant
The Cirielle Diamond Fashion Pendant brings a vibrant touch of orange to the festive edit with its elegant and refined design.
Price: On Request
Day 2 – White | Ornella Diamond Fashion Bracelet
The Ornella Diamond Fashion Bracelet complements the purity of white with its delicate diamond detailing and sophisticated silhouette.
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Day 3 – Red | Crimselle Ruby & Diamond Stud Earrings
The Crimselle Ruby & Diamond Stud Earrings adds a striking festive touch in red, with an elegant design that makes it ideal for celebratory occasions.
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Day 4 – Royal Blue | Nerra Sapphire & Diamond Fashion Ring
The Nerra Sapphire & Diamond Fashion Ring captures the depth of royal blue through a refined combination of sapphire and diamonds.
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Day 5 – Yellow | Selis Diamond Hoop Bali Earrings
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Day 6 – Green | Lysandra Diamond Cocktail Ring
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Day 7 – Grey | Cosmos Diamond Stud Earrings
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Day 8 – Purple | Lyrisse Diamond Fashion Earrings
The Lyrisse Diamond Fashion Earrings complement the richness of purple with their elegant design and sparkling diamond detailing.
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Day 9 – Peacock Green | Mayura Pearl & Diamond Drop Earrings
The Mayura Pearl & Diamond Drop Earrings reflect the elegance of peacock green with a graceful combination of pearls and diamonds.
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9 Special Gemstones for this Navratri By Irasva Fine Jewellery
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