Senco to Operate All Melorra Stores Under New Agreement

In a key strategic move aimed at expanding its retail footprint and enhancing brand offerings, Senco Gold Ltd has signed a Master Franchise Agreement with August Jewellery Private Limited (AJPL), the parent company of the omnichannel jewellery brand Melorra.  

This partnership is set to open new growth avenues for Senco in the fast-evolving branded jewellery market, particularly in the youth and Gen Z segment. 

Master Franchise Structure and Store Integration 

As per the agreement, Senco becomes the exclusive Master Franchisee of Melorra. All existing Company Owned & Company Operated (COCO) stores of Melorra will now be managed by Senco as a franchisee.  

Additionally, Melorra’s existing Franchisee Owned & Franchisee Operated (FOFO) and Franchisee Owned Company Operated (FOCO) outlets will now function as sub-franchisees under Senco. Furthermore, Senco gains the exclusive right to open new franchise stores, strengthening its position in the branded jewellery segment. 

Exclusive Melorra Product Offering and Tenure 

The stores under this arrangement will exclusively retail Melorra products, reinforcing brand focus and identity. The current tenure of the agreement extends until September 30, 2025, with Senco responsible for all commercial implications of existing franchise agreements. 

Strategic Rationale and Expected Gains 

This collaboration is expected to provide Senco access to over 20 Melorra stores, while helping it tap into younger demographics with high brand recall. Importantly, the move is likely to drive incremental sales of high-margin diamond jewellery, thereby strengthening Senco’s product mix and profitability. 

Senco Gold Share Price Performance 

On April 25, 2025, Senco share price opened at ₹389.50, up from its previous close of ₹384.95. At 1:19 PM, the share price of Senco was trading at ₹372.45, down by 3.25% on the NSE. 

About Senco Gold Ltd 

Senco Gold Limited was incorporated in 1994. It is a Pan-India jewellery retailer and, based on the number of stores, it is the largest organised jewellery retail player in the Eastern region of India. 

Also Read: How to Get VAT Refund When Buying Gold From Dubai Gold Souk? 

Conclusion 

This strategic alliance marks a forward-looking step for Senco Gold, enabling it to leverage Melorra’s brand equity and digital-first approach. With access to a broader customer base and retail network, Senco is well-positioned to accelerate growth and enhance value in the premium jewellery space. 

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