Fine jewellery brand Senco Gold foresees growing by between 15% and 20% in the 2025 financial year in terms of both revenue and profit. The Kolkata based business also plans to roll out a large scale store expansion this fiscal year.
“We are looking at a growth of 15% as a conservative estimate, which may go up to 20% in normal circumstances, in both revenue and profit in FY25,” Senco Gold’s managing director and CEO Suvankar Sen told the Press Trust of India.
The business remains confident of double digit growth despite challenging circumstances including high gold prices and geopolitical tensions across the world. The business saw its revenue increase by 39% year on year in the fourth quarter of the 2024 financial year with profits up by 23% and is confident that much of this momentum can continue.
“We plan to add another 15 to 20 stores in the current fiscal,” said Sen. “These outlets will be divided equally between company-owned and franchise based ones. We have invested in new store capex [capital expenditure] and capacity building for the future, amounting to over Rs 38.23 crore for our pan-India strategy.”
Senco Gold plans to enter new markets in South and West India through its brick-and-mortar store expansion. However, it expects its customers in North and East India to fuel 70% to 80% of its growth.
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