Melorra witnesses 400 percent growth in FY2019
Online fashion jewellery brand Melorra has witnessed year-on-year revenue growth of 400 percent in the financial year 2019 and expects it grow a further five times during the current fiscal.
Melorra had reported Rs 8.5 crore ($1.2 million) revenue in the fiscal year 2017-18 which grew to Rs 40 crore last fiscal on the back of strong sales in non-metro cities.
The online jewellery retailer has strengthened its delivery network to achieve the set target and now delivers to all markets in the country.
Melorra is banking on millennials to drive sales and to cater to this segment has been launching 100 new designs every week.
It recently launched its spring-summer 2019 collection this month which includes four new collections called The Floral Bloom, Polka, Pastels and Tie & Dye.
“Melorra has established itself as a name to reckon with, recording year-on-year growth of 400% in FY 2019 and expecting to grow five times in revenue, in FY2020. Melorra has delivered to over 1200 towns in the country and is adding 100 new towns every month. From cities with a population of less than 10,000 to those above 1 million, Melorra has made its mark everywhere,” Saroja Yeramilli, founder at Melorra, said in a statement.
Talking about the new collection, Yeramilli said, "Consumers are moving from traditional, chunky jewellery to lightweight, everyday styles that complement their western wardrobe. Our Spring Summer 2019 collections offer them current, unique designs in fine jewellery, that they won't find anywhere else."
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