Senco Gold predicts 12% revenue increase this festive season

Fine jewellery brand Senco Gold Limited expects to see a 12% year-on-year increase in revenue during the festive season. However, the close to 18% recent increase in gold prices could result in a 10% hit to volume growth.

“To attract the consumers this festive season, almost a month back, we introduced advanced booking for consumers where we have offered consumers the flexibility that if the prices go up, they will get the lower prices, and if the prices go down, then also they will get the lower prices,” Senco Gold Limited’s CEO and managing director Suvankar Sen told ET Retail. “So this way, we are trying to solve the issue of price volatility for consumers.”
 
The brand has also expanded its product selection ahead of the festive season to draw in more customers. Senco’s everyday, bridal, and men’s jewellery collections have all been bolstered with new styles to cater to diverse demographics.
 
As increasing numbers of shoppers in India embrace lab-grown diamonds, notably for their more affordable price points and sustainable credentials, Senco has launched ‘Sennes’ as its lab-grown diamond jewellery sub-brand. Senco has launched four brick-and-mortar stores for Sennes jewellery in Kolkata and also plans to launch the range online to cater to consumers across the country.