Senco Gold to expand retail presence with focus on North India

By

Maverick Martins

Published
Oct 17, 2022

Kolkata-based jewellery retailer Senco Gold Ltd is planning to expand its retail presence across the country with focus on north Indian states.

The company currently has 127 showrooms in 89 cities and towns across 13 States in India which include 70 company-operated showrooms and 57 franchisee showrooms with a strong presence in West Bengal.

Earlier this year, Senco Gold had filed a draft red herring prospectus (DRHP) with capital markets regulator SEBI to raise Rs 525 crore ($70 million) through an initial public offering (IPO).

The company plans to utilise the funds raised from the IPO to fuel its expansion plan across the country.

“A part of the IPO proceeds would be utilised to open new stores across the country, but our focus would be north India. It has 20 showrooms in North India, spread across, Delhi-NCR, Chandigarh, Haryana, and Uttar Pradesh. In addition, the company is aiming to increase its presence in the digital space through its online platforms as well as through online marketplaces,” Suvankar Sen, managing director CEO of Senco Gold told PTI.

Senco Gold, which operates under the trade name ‘Senco Gold & Diamonds’, is the largest organised jewellery retail player in the eastern region of India based on number of stores.