Senco to now operate all Melorra stores after it enters into a tie-up with August Jewellery
Senco Gold
on Thursday announced that it has entered into a marketing tie-up with
August Jewellery
Private Limited till September 30, 2025.
"Senco Gold Limited has entered into a
Master Franchise Agreement
with AJPL, whereby all existing Company owned & Company operated (COCO) stores will be operated by Senco as Franchisee of AJPL, while the Franchisee owned & Franchisee operated (FOFO) and Franchisee owned Company operated (FOCO) stores of AJPL will become Senco's sub franchisee," said the company through a stock exchange filing.
As per the statement, all the terms of conditions of existing
franchise agreement
will remain same and Senco as Master Franchisee will be responsible for all commercial implication of such existing franchise agreements.
by Taboola
by Taboola
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Following the tie-up, Senco will run and operate the stores of Melorra.
The company had a 22 per cent year-on-year (YoY) revenue growth in the third quarter (Q3) of FY25. The company in FY'24 posted a revenue of Rs 5,230 crore. It achieved the highest-ever sales of over Rs 1,000 crore in a single month (October 2024) and Rs 2,000 crore plus in a single quarter (Q3F'25).
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Senco Gold
& Diamonds' same-store sales growth (SSSG) remained steady in the 13-14 per cent range, while the stud ratio was maintained at 10.5 per cent, the company mentioned in its business update. The old gold exchange contributed 38 per cent to sales, with 62 per cent from non-company sources.Senco Gold & Diamonds expanded its showroom portfolio to 170, including 69 franchisee showrooms, and launched four new showrooms in Q3. It also raised Rs 459 crore through a qualified institutional placement (QIP) at Rs 1,125 per share.
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