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Senco Gold in advanced talks to buy Melorra as it takes a shine to e-commerce

LivemintLivemint · 19d
Senco Gold in advanced talks to buy Melorra as it takes a shine to e-commerce

- Kolkata-based jeweller Senco Gold is looking to acquire omnichannel jewellery retailer Melorra to expand its e-commerce presence. - The deal is expected to be valued at ₹40-50 crore, but the final valuation is still being negotiated. - Senco is one of several potential buyers Melorra has been in talks with, as the company is in need of capital. - Due diligence is currently underway and the deal will be confirmed upon satisfactory completion of the process. - Senco has been focusing on boosting its online sales and derived about ₹30 crore of its revenue from e-commerce. - Melorra, founded in 2015, has raised about $88 million in equity funding but has been facing financial difficulties, with rising losses and cash outflows.

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