In a major boost to its expansion plans, Senco Gold & Diamonds has decided to open 30 new stores in India, Malaysia and Singapore in the next two years.
According to a PTI report, the company currently has 70 stores across the country and was only the second company in the region to attract Rs 80 crore FDI last year. Senco Gold and Diamonds had a turnover of Rs 1,500 crore in 2014-15, a growth of 12 per cent over the previous year and it was targeting to achieve Rs 1,800 crore in the current fiscal.
The same report also quoted Sankar Sen, MD, Senco Gold & Diamonds, saying that exports accounted for Rs 300 crore. He added that the figure was likely to remain the same this year due to prevailing market conditions across the world.