The company’s revenue from non-East markets grew by 23% to Rs 1,230 crore in FY25. It plans to fuel further growth and deepen its national footprint by opening more company-owned and franchise-run stores. In FY26, it plans to open 18-20 new stores
Kolkata: Leading jewellery retailer Senco Gold is planning to scale its presence across India by increasing revenue contribution from non-Eastern markets to 40% by FY30, up from the current 25%. This was stated by Suvankar Sen, MD & CEO, Senco Gold, recently during a media interaction.
With more than 170 showrooms across 17 States and one in Dubai, the company aims to deepen its national footprint through a mix of company-owned and franchise stores. “We want to get around 40% of our total revenue from outside the Eastern region by FY30,” Sentold the Hindu Businessline. “This revenue growth will be driven by opening more owned and franchise stores. Number of new franchise stores will exceed new owned stores as the franchise model is capital-saving for the company.”
The company opened 16 new stores in FY25 – nine company-owned and six franchise-run – and launched one Sennes outlet focused on lab-grown diamonds and lifestyle accessories. “Six franchisees opened in smaller towns. The rest were in East India, Delhi NCR and Pune,” said Sen. In FY26, Senco plans to open 18-20 new stores, of which 7-8 will be company-owned.
Revenue from non-East markets grew by 23% to Rs 1,230 crore in FY25. “As the brand is getting stronger and awareness levels increase, enquiries and leads for franchisees in Tier II, Tier III and Tier IV towns are also growing,” Sen added.
Senco’s consolidated revenue for FY25 stood at Rs 6,328 crore, a 21% rise over Rs 5,241 crore in FY24. “We ended the year close to Rs 6,300 crore. Last year, we had aimed for 18-20% growth, and we have met that,” Sen said. In Q4FY25 alone, the brand recorded a 21% revenue increase to Rs 1,377.71 crore.
The company has also seen a shift in product mix. While gold jewellery volumes declined 6% in Q4 due to rising gold prices, diamond jewellery volumes grew 21%. For the full year, diamond jewellery grew 15% in value and 2% in volume. “We are seeing traction in lighter weight and lower purity gold, especially in 14- and 18-carat categories. Diamonds are being considered as an alternative by many customers,” said Sen.
Senco’s stud ratio — the share of diamond jewellery in its total business — rose from 10.5% to 10.9% by year-end. The brand is also focusing on growing its solitaire business, which saw 26% value growth in stones above 0.20 carats in FY25.
The old gold exchange channel has become a significant contributor. “Old gold exchange accounted for around 40% of overall sales, up from 25% two to three years ago. More than 60% of that is from non-Senco sources,” he said.
Looking ahead, Senco expects 18-20% revenue growth in H1FY26. “Despite gold prices being at an all-time high, consumer trust in gold and silver remains strong. Diamond sales will continue to be a key focus for us,” Sen concluded.
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