Senco plans 50 stores

Senco Gold, the Rs 130 crore jewellery chain, is eyeing a pan-India presence with 50 outlets by 2011.

Currently it has 24 outlets in West Bengal, with six in Kolkata. According to Suvankar Sen, executive director of Senco Gold, "We are looking at growing by almost 60 per cent year on year. We are therefore looking at more product variety, tying-up with designers for designer jewellery collection, as well as expanding our exports." The company, which started exporting only gold jewellery one year ago under its subsidiary Senco Gold Impex Pvt Ltd, is looking at introducing diamond jewellery too in markets like Dubai and Singapore. Currently, the company earns 15 per cent of its revenues from exports, which the company hopes to double going forward.

The company is also investing in additional manpower at its manufacturing unit at Manikanchan SEZ in West Bengal. The SEZ currently has 150 artisans. The company plans a total of 400 artisans in the next two years.

Senco has also tied-up with Agnimitra Paul to launch a bridal designer collection, priced between Rs 15,000 and Rs 1.5 lakhs. "Tying-up with designers help tap the consumers' aspirational levels," said Sen.

Also, World Gold Council (WGC), which is an international organization to promote gold and its products, has tied up with Senco Gold to promote gold Jewellery in Kolkata and other regions of West Bengal. The objective is to jointly promote gold jewellery among the target audience taking into account the consumer needs and the current market scenario.

According to Keyur Shah, associate director of World Gold Council, "We have strategic tie-ups with 20 such gold jewellery retailers in the country. WGC shares research findings with the retailers, guide on product offerings, fashion jewellery as well as target consumers for particular seasons and collection.”