Listed jewellery firm Senco Gold on Wednesday announced a strategic investment in August Jewellery Private Limited (AJPL), known for its online jewellery brand, Melorra. The company will acquire a 68 per cent stake in AJPL, which will help it to expand it digital footprint.
The acquisition will be completed by April 30, 2026. Following the acquisition, AJPL will become a subsidiary of Senco Gold.
The investment in Melorra is intended to bolster Senco Gold’s digital and omnichannel approach, catering to the evolving preferences of the young consumer segment. Melorra’s design and e-commerce capabilities complement Senco Gold’s existing competencies, leading to improved operational efficiencies and enhanced customer experience.
The acquisition of 68 per cent equity share capital of AJPL will amount to approximately Rs 68 crore. For the financial year ending March 2025, Melorra reported a turnover of Rs 33.24 crore. In comparison, the turnover figures for the years ending March 2024 and March 2023 were Rs 173.62 crore and Rs 605.47 crore respectively.
Melorra, established on January 16, 2015, focuses on fast-fashion, lightweight jewellery. It operates through 21 stores across India. Melorra is known for using advanced technology to launch fresh designs weekly.
The acquisition will be completed by April 30, 2026. Following the acquisition, AJPL will become a subsidiary of Senco Gold.
The investment in Melorra is intended to bolster Senco Gold’s digital and omnichannel approach, catering to the evolving preferences of the young consumer segment. Melorra’s design and e-commerce capabilities complement Senco Gold’s existing competencies, leading to improved operational efficiencies and enhanced customer experience.
The acquisition of 68 per cent equity share capital of AJPL will amount to approximately Rs 68 crore. For the financial year ending March 2025, Melorra reported a turnover of Rs 33.24 crore. In comparison, the turnover figures for the years ending March 2024 and March 2023 were Rs 173.62 crore and Rs 605.47 crore respectively.
Melorra, established on January 16, 2015, focuses on fast-fashion, lightweight jewellery. It operates through 21 stores across India. Melorra is known for using advanced technology to launch fresh designs weekly.
