MUMBAI: Talk about glittering results! Senco Gold & Diamonds has struck festive fortune, clocking record-breaking sales of over Rs 1,700 crore in October, the highest in its 85-year history. The sparkle came courtesy of Diwali and Dhanteras, as buyers flocked to stores undeterred by sky-high gold prices.
The jewellery giant reported a 56 per cent year-on-year jump in sales, with gold value surging 60 per cent and diamonds glittering 32 per cent higher compared to last October. Even as gold touched a record Rs 132,294 per 10 grams on October 31, Senco managed to grow both in volume and value, with a 4 per cent uptick in gold volume, 5 per cent in diamonds, and 8 per cent in silver.
New design launches, buoyant consumer sentiment, and irresistible festive offers kept cash registers ringing across Senco’s 185 stores in India and online platforms.
“These record numbers reflect a very positive customer sentiment,” said Senco Gold & Diamonds managing director and CEO Suvankar Sen. “We are geared up to meet the strong demand through the upcoming wedding season and beyond. Our focus remains on new design innovation, operational efficiency, and enhanced returns for our stakeholders.”
The company also expanded its footprint in October with new showrooms in Etawah, Bikaner, and Dehradun, while maintaining steady growth momentum with a 25 per cent year-on-year retail value increase across Q1, Q2, and October.
With 185 showrooms in India, two in Dubai, and eight Sennes lifestyle stores, Senco’s festive sparkle shows no sign of dimming. Even as gold prices reach dizzying heights, it’s clear that for Indian shoppers, love for gold never loses its shine.