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Dec, 23 2015

Senco to have a glittery expansion in coming fiscal

Senco Gold and Diamonds is eyeing at opening 30 new stores across the country and abroad by the end of 2017-18 fiscal. Of the total proposed stores, one each would be in Singapore and Malaysia.

"We already have 70 stores across the country and have plans to establish 30 more in India and also in the South East Asia by the end of 2017-18. Also, Senco was the second company to attract Rs 80-crore Foreign Direct Investment in this part of the country last year," Managing Director Sankar Sen was quoted in a PTI report.

The company had registered a growth of 12 per cent with a turnover of Rs 1,500 crore in 2014-15, while targeting to achieve Rs 1,800 crore in the current fiscal. The export component contributed Rs 300 crore and the figure was likely to remain the same this fiscal owing to the prevailing market conditions across the world, he further told PTI. Senco, which started its operations in 1938, is one of the oldest jewellery organisations in India. Its designs feature a perfect blend of contemporary and core values.

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