Representative image Kolkata: India’s leading jewellers expect gold demand to drop by 15-20% this Diwali-Dhanteras as compared to last year same period as gold price is nearing Rs 81,000 per 10 g mark, forcing many of them to come up with freebies beyond making charges discount in which is usually the peak shopping period. Diwali-Dhanteras…
Jewellery retailer Senco Gold Ltd is expecting 12 per cent jump in revenue this festive season as compared to the last festive season, Suvankar Sen, MD and CEO, Senco Gold Ltd told ETRetail. As compared to the last festive year, gold prices have jumped almost 18 per cent, so this festive season, it is also…
Representative Image Monthly instalment schemes floated by jewellers are keeping the gold demand alive for the retailers, with the amount received by them from consumers continuing to grow in corpus when overall gold demand remains weak. Market leader Tata-owned Tanishq has disclosed that monthly deposit at its stores has gone up by 10% year-on-year (yoy)…
Representative Image New Delhi: Jewelry retailer Senco Gold has reported an 85.4 per cent increase in consolidated net profit at Rs 51.27 crore for the first quarter (Q1) of the fiscal year 2024-25 (April-June 2024) as compared to Rs 27.66 crore in the same period previous fiscal, it said in a regulatory filing on Tuesday….
Although jewellery is emerging as a nationwide trend for several players, it still primarily operates on a hyper-local level. Effective inventory/SKU management and enhancing customer experiences will be crucial for success, according to a report by Motilal Oswal Research which was released today. The acquisition of customers, upgrades, and frequency of visits to the store…
New Delhi: Hong Kong-based SAIF Partners on Thursday pared a 5.8 per cent stake in jewellery retailer Senco Gold for Rs 432.72 crore through an open market transaction. SAIF Partners, through its arm SAIF Partners India IV Ltd, sold shares of Kolkata-based Senco Gold on the BSE. According to the bulk deal data available on…
(Representative Image) Jewellery chain Senco Gold is looking at 15-20 per cent growth in revenue and profit in the current fiscal, despite rising prices of the yellow metal and global uncertainties. The jeweller is also planning to add 15-20 stores in the current 2024-25 financial year (FY’25), of which around 50 per cent will be…
New Delhi: Jewellery retailer Senco Gold saw its quarter-on-quarter net profit fall to Rs 32 crore in Q4FY24 against Rs 109.3 crore in Q3, regulatory filings showed. In sales terms, Senco’s Q4 revenue from operations stood at Rs 1,137 crore, while in the December quarter, the company reported an income of Rs 1,652 crore. However,…
The surge in gold prices over the last six weeks has pushed up the price of diamond- jewellery in India and crimped its demand. To bring down the rates and get customers back to buying, several jewellers have started using lower cartage yellow metal in their pieces. In place of 18-carat gold, stores are now…
Suvankar Sen, MD & CEO, Senco Gold, says the endeavour of the Birla group to enter into the industry is just a signal that the industry is getting more and more organised. The story that we have been hearing over the last 5-10 years, the shift from the unorganised to organised, are the actions and…
