Senco Gold Limited will acquire a 68% equity stake in August Jewellery Private Limited (Melorra), a fast-fashion, lightweight online jewelry brand. The investment aims to boost Senco Gold’s digital and omnichannel strategy. The brand reported a turnover of ₹3324.87 lakhs for the financial year ending March 2025. The acquisition is expected to be completed by April 30, 2026.
Strategic Investment in Melorra
Senco Gold Limited has announced a strategic investment in August Jewellery Private Limited (AJPL), known for its online jewelry brand, Melorra. This move will see Senco Gold acquiring a 68% equity stake in AJPL, marking a significant step in expanding its digital footprint.
Deal Rationale
The investment in Melorra is intended to bolster Senco Gold’s digital and omnichannel approach, catering to the evolving preferences of the young consumer segment. Melorra’s design and e-commerce capabilities complement Senco Gold’s existing competencies, leading to improved operational efficiencies and enhanced customer experience.
Financial Details
The acquisition of 68% equity share capital of AJPL will amount to approximately ₹68 crores. For the financial year ending March 2025, Melorra reported a turnover of ₹3324.87 lakhs. In comparison, the turnover figures for the years ending March 2024 and March 2023 were ₹17362.71 lakhs and ₹60547.18 lakhs respectively.
Melorra’s Background
Melorra, established on January 16, 2015, focuses on fast-fashion, lightweight jewellery. It operates through 21 stores across India. Their designs are trend-forward, inspired by global runways. Melorra is known for using advanced technology to launch fresh designs weekly.
Expected Completion
The acquisition is projected to conclude by April 30, 2026. Following the acquisition, AJPL will become a subsidiary of Senco Gold Limited.
Source: BSE
