Stiff competition from gold-dominant South market and huge diamond jewellery sales prospective in the North region cited to be reason behind the effort
Kolkata — Senco Gold & Diamonds, a prominent jewellery brand, has announced plans to boost its presence in the north Indian market, aiming to increase its revenue share from the region to 25%. Currently, north India contributes 18% to the company’s revenue, while eastern India remains the primary revenue source, accounting for 65%-70% of the company’s total revenue, approximately Rs. 3,500 crore.
During the company’s 30th Annual General Meeting (AGM) on Friday — its first since being listed — Managing Director Suvankar Sen outlined the strategic shift. “We aim to elevate our revenue contribution from north India to 25%,” Sen stated. He noted that the region’s preference for diamond jewellery presents a significant opportunity, as diamonds have a higher gross margin of 25% compared to gold’s 14%-15%.
Sen highlighted that gold jewellery currently constitutes 80% of Senco’s revenue, while diamonds contribute 10%-12%. The remainder comes from platinum, silver, and other segments. “Our strategy for pan-India expansion will be executed in phases. The competition in south India is more intense, as customers there predominantly purchase gold,” he added.
The company is also focusing on expanding its e-commerce segment, which currently generates around Rs. 30 crore of revenue. Sen expressed the goal of significantly increasing online sales.
During the AGM, shareholders including Manoj Gupta and Krishnendu Das engaged with company executives on various issues. Sen addressed recent security concerns, noting that three thefts had occurred at franchise stores in Ranaghat and Purulia over the past year. “Approximately 60% of the stolen items have been recovered. Our company-owned stores, which are connected to a control room, have enhanced surveillance measures to prevent such incidents,” Sen explained.
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