Senco Gold & Diamonds is set to acquire a 68% stake in August Jewellery Private Limited (AJPL), the parent company of the online jewelry brand Melorra, for approximately ₹68 crore. The transaction, structured as a cash consideration deal, is expected to be finalized by April 30, 2026, after which Melorra will operate as a subsidiary of Senco Gold.
This strategic move signifies Senco Gold's intent to strengthen its digital presence and broaden its appeal to tech-savvy, younger consumers. By integrating Melorra's e-commerce capabilities, Senco Gold aims to create a robust omnichannel experience, blending its established retail network with Melorra's online platform. Melorra is known for its fast-fashion, lightweight jewelry and leverages technology to launch new designs weekly.
The acquisition will involve Senco Gold acquiring 68% of AJPL's equity share capital through a primary investment where fresh equity shares will be issued.
AJPL, incorporated on January 16, 2015, operates 21 stores across India under the Melorra brand. The company focuses on manufacturing, producing, designing, marketing, and selling gold, silver, precious and semi-precious stone jewelry.
Melorra has reported fluctuating turnover figures in recent fiscal years. For the financial year ending March 2025, its turnover was ₹33.24 crore (₹3324.87 lakhs). This is a significant decline from ₹173.62 crore (₹17,362.71 lakhs) in March 2024 and ₹605.47 crore (₹60,547.18 lakhs) in March 2023.
Senco Gold previously signed a Master Franchise Agreement with AJPL in April 2025, granting Senco the right to operate all Melorra stores. All Company Owned & Company Operated (COCO) stores of Melorra are now managed by Senco as a franchisee. Melorra's existing Franchisee Owned & Franchisee Operated (FOFO) and Franchisee Owned Company Operated (FOCO) outlets now function as sub-franchisees under Senco.
Investors will be monitoring how Senco Gold integrates Melorra's operations and addresses the brand's recent revenue decline. The success of this acquisition depends on leveraging Melorra's tech-enabled design capabilities and e-commerce strengths to drive sustainable growth and capture market share, especially within the young consumer segment.
