Senco Gold Eyes Major E-Commerce Move with Potential Melorra Acquisition Worth ₹40-50 Crore

Senco Gold is in advanced discussions to acquire online jewelry retailer Melorra in a deal estimated between ₹40-50 crore, though the final value is still being negotiated. Melorra has been in talks with several potential buyers, and Senco has emerged as one of the key contenders. The acquisition is still under due diligence, and a final decision will be made after this process is complete.

Senco’s managing director, Suvankar Sen, mentioned in September that the company earns around ₹30 crore from online sales and plans to grow this part of the business. Senco, which was founded in 1994, competes in the online jewelry space with brands like BlueStone and Tata-owned CaratLane.

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Melorra, founded in 2015 by Saroja Yeramilli, has raised $88 million in funding but has faced financial challenges, including rising losses. The company’s valuation dropped significantly after a recent funding round, and it has struggled to pay employees, as reported in September.

Competition in the online jewelry space has increased, with several new players like Giva, Kushal’s, and Eternz raising funds to grow. Senco Gold’s shares have surged over 100% this year.