Fine jewellery brand Senco Gold has reported double digit growth in its East, South, West, and North Indian regions following a busy Dhanteras. The business expects the winter wedding season to bring strong sales and take its blended growth to 25%.
“The next two quarters will not be better than the first half,” Senco Gold’s chief financial officer Sanjay Banka told ET Now. “If we look at past trends, the major sales happen up to Dhanteras. We have already seen around 26% to 27% year-on-year growth till today. The next quarters are likely to take the blended growth up to 25%.”
Senco Gold retails from brick-and-mortar stores across India and plans to continue to expand across the country to reach more shoppers while focusing on return on capital employed. The brand now counts 10 stores in Delhi NCR and 10 in Uttar Pradesh which has brought its North India regional total to 20.
“As far as growth across all zones is concerned, we are very happy that we are growing across all the zones in India, particularly in the Eastern zone where the growth is around 22%,” said Banka. “In the West and South, the growth is much higher, more than 30% because our base there is slightly lower and we have much more to do. So the North region is growing. We have talked about the highest stud ratio in the North at around 19%.”
Source: Fashion Network