Editor’s Note
Senco Gold Ltd has announced a significant strategic move, approving an investment to acquire a majority stake in the parent company of the fast-fashion jewellery brand Melorra. This acquisition, valued at over twice the target’s projected annual turnover, signals a major expansion for the established retailer into a dynamic new market segment.
Kolkata: Jewellery retail chain Senco Gold Ltd on Wednesday said its board has approved an investment to acquire a 68% equity stake in August Jewellery Private Limited (AJPL), the parent company of fast-fashion jewellery brand Melorra, for a cash consideration of ₹68 crore. The acquisition cost is over two times August Jewellery’s FY25 turnover of about ₹33 crore.
The acquisition will be carried out through a primary investment, following which AJPL will become a subsidiary of Senco Gold, the company said in a filing to stock exchanges. AJPL reported a turnover of ₹33.24 crore in FY25, according to the disclosure. Senco did not disclose profit or loss it posted for the last fiscal.
AJPL, incorporated in 2015 and headquartered in Bengaluru, is engaged in the manufacturing, design, marketing and sale of gold, silver and precious stone jewellery, including lightweight fashion jewellery under the Melorra brand. The company operates 21 stores across India and focuses on technology-led, trend-driven jewellery offerings.
Senco Gold said the integration is expected to create operational synergies and enhance innovation and customer experience. The transaction does not qualify as a related party transaction, and no regulatory or governmental approvals are required, the filing said. The acquisition is expected to be completed by April 30, 2026.
