SAIF Partners-backed Senco Gold aims to double domestic retail biz revenue by fiscal 2018

MUMBAI: SAIF Partners-backed Senco Gold & Diamonds targets a doubling of revenue from domestic retail operations to Rs 2,000 crore by fiscal 2018.
The Kolkata-based jeweller, which has former Indian cricket captain Sourav Ganguly as its brand ambassador, will invest Rs 350 crore over the next three fiscals to expand and open new stores as part of a drive to promote Bengal’s jewellery craftsmanship across the country.
Senco Gold & Diamonds, which is known for its light weight jewellery, currently has 68 stores in the country and the aim is to have more than 100 stores in the near future.
The over seven-decade-old company, in which SAIF Partners invested Rs 80 crore in October 2014, also plans to raise funds through a stock market listing by fiscal 2018.