Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>Despite a rise in the price of gold and <keyword id="36141" type="ORGANIZATION" weightage="20" keywordseo="economic-slowdown">economic slowdown</keyword>, the demand for <keyword id="3198780" type="PERSON" weightage="100" keywordseo="Melorra">Melorra</keyword>’s jewellery remains unchanged</li><li>The young jewellery brand attributes this stability to design differentiation and affordable pricing</li><li>On the back of festive season, new technologies, and strong marketing game on digital media, Melorra is aiming to become a ₹160 crore brand by the end of FY19 - 20</li></ul>It was just on a casual visit to a jewellery store that <keyword id="3199001" type="PERSON" weightage="20" keywordseo="Saroja-Yeramilli">Saroja Yeramilli</keyword>, CEO and Founder of Melorra, came up with the concept of launching light-weight jewellery for young women. She overheard a conversation between a mother, who was trying to persuade her daughter to buy bulky jewellery, while the daughter was reluctant to buy something that she could not wear every day. She identified this huge gap in the kind of jewellery young women wanted and what traditional jewellers were truly offering. Melorra’s journey thus began in May 2016 with an aim to bridge this gap and address the wardrobe mismatch. It was conceptualized as a fashion-forward, real gold and diamond jewellery brand that styles for the western wardrobe of modern women. Yeramilli takes pride in disrupting the market with a simple idea. “It has been fulfilling to see that as a brand which focuses on designing jewellery for the modern wardrobe, Melorra has been successful in 'unboring' and changing the perception about gold jewellery in the country. More and more women are now looking at gold jewellery as something trendy that can be worn with just about any everyday outfit.” Yeramilli says its designs reflect the global runway trends of Milan, New York, Paris and London, and are in sync with the fashion seasons — Spring Summer and Autumn Winter. Unaffected by the Economic Slowdown Despite a rise in the price of gold and economic slowdown, there hasn’t been a decline in the demand for Melorra’s jewellery. Yeramilli attributes this stability to ‘design differentiation and affordable pricing.’ While traditional jewellery players in the market are not as excited for the festive season this year, the preparations at Melorra are on full swing. It has launched about seven Autumn-Winter 2019/20 collections and will be launching more collections in the weeks ahead. Telling us how Melorra has managed to have a smooth ride in this economic slowdown and festive plans, Yeramilli said, “About 70% of our collections are priced below ₹30,000. This and the fact that we offer attractive discounts to consumers makes Melorra a popular choice. Apart from this, while festivals are synonymous with gold jewellery in India, Melorra offers something ‘untraditional’ — gold that can be matched with any every day outfit and become a part of a woman’s wardrobe even before or after the festivities. We are looking forward to an encouraging business season ahead. We are also witnessing an increase in demand from not only the metros but also really small villages that fall in Tier-5 and Tier-6 classification.” Choice of Advertising Medium Melorra’s growth story is built solely with the help of digital media. It’s marketing monnies are 100% on digital advertising. It was drawn to the medium as it allows you to navigate your own analysis, take corrective action, with minimum budget requirements. Telling us how digital media can help a start-up grow leaps and bounds, Yeramilli said, “Given that our target audience consumes more digital media than any other form of media, digital channels enable us to be present where they are. Also, digital is one of the best mediums that can give brands measurable ROI and immediate impact, be it on YouTube or Facebook. Unlike in traditional media where a significant budget is required to get an uptick, and in digital, you can start off and see results with minimal spends too. Segmentation, personalized data and diverse viewership are among the other reasons why digital is a preferred media. With technology penetrating all aspects of marketing today, brands must understand what drives action for consumers and results for business.” Investment in New Tech Melorra has been investing in new technologies every year to increase the efficiency of its non-inventory business model. The brand uses <keyword id="883288" type="PERSON" weightage="20" keywordseo="3D-printing">3D printing</keyword> to provide an accurate and elegant finish online and now it is also placing its money on Artificial Intelligence. “Technology is one of the cornerstones of Melorra’s business. At Melorra, we have invested in Computer Aided Design (CAD) and 3D printing technology, enabling high precision and accuracy to execute and convert computer sketches into virtual 3D models, which are then rendered with real material input. Going forward, we are looking at investing in technologies to enhance customer experience with AI-led, voice-enabled and vernacular language-enabled shopping experiences,” says Yeramilli. Plan ahead With an innovative positioning and business model, Yeramilli is confident that in the next three years, Melorra will be ‘one of the largest digital consumer brands’. Melorra has recorded a year-on-year growth of 400% in FY 2019 and is expecting to grow 5X in revenue by the end of FY 2020. Yeramilli also shared her intentions of taking Melorra beyond India. She believes that Melorra’s designs are globally relevant and have a ‘market wherever there are high street brands.’

Melorra aims to become a ₹160 crore brand by the end of FY20 despite the economic slowdown and higher gold prices

<ul><li>Jewellery sales this July were 36% higher than they were last July, according to the Retailer Association of India.</li><li>Jewellery brands like <keyword id="413856" type="General" weightage="20" keywordseo="kalyan-jewellers" source="Orion">Kalyan Jewellers</keyword>, Melorra and more are banking on the <keyword id="36208" type="General" weightage="20" keywordseo="festive-season" source="Orion">festive season</keyword> and strong sales ahead.</li><li>Platinum jewellery brands, diamonds and even other precious stones’ retailers are hoping that consumers will open up their purse strings this festive and wedding season.</li></ul>The ongoing festive season, which comes after two years of COVID, has made gold, diamonds and platinum jewellers optimistic. After witnessing a spike in July, jewellery brands are looking forward to bumper festive sales this year. Manufacturers are opening new stores and upping their marketing activities to reach out to more consumers. “We are expecting the demand to go up this festive season as we are coming out of the shadows of COVID-19. We are putting up stores in eastern India (West Bengal, Orissa, Bihar and Assam), which would benefit from both Pujo and Diwali,” Kushal Singh, head of marketing of Melorra, told Business Insider India. Melorra plans to launch 60 stores by the end of this fiscal and 350 by FY26. As per the Retailers Association of India, jewellery sales this July were 36% higher than they were last July. <div type="image" title="gold rate in Aug" msid="93654867" hostid="261" caption="&amp;lt;p&amp;gt;Google finance&amp;lt;/p&amp;gt;"></div> This is in spite of erratic movements in <keyword id="46002" type="General" weightage="20" keywordseo="gold-prices" source="Orion">gold prices</keyword>. In mid-July, 10 grams of gold had dropped to ₹51,860. While falling prices is generally good news for buyers, since it’s also treated as an investment, they could turn nervous if their prices are erratic. Also, they have been inching up since late July and it caught pace in August. Singh however says that prices do influence purchases, but only temporarily. “Historically, gold imports to India have grown despite gold prices going up,” said Singh. He said that most of the demand will come from tier I and II cities during the festive season. Kalyan Jewellers hopes a rerun of the last quarter’s performance and also expects it to be better going ahead. It reported a net profit of ₹108 crore in the April-June quarter and its consolidated revenues stood at ₹3,333 crore. “July has been very good, the momentum is better than Q1. In the South, there's wedding and festive season, so we expect that Q2 should be good and we have high hopes because July has been behaving extremely well in India and the Middle East,” said Ramesh Kalyanaraman, executive director, Kalyan Jewellers. In the last one year, most jewellery stocks provided positive returns to their investors. <div type="image" title="Gold story" msid="93654885" hostid="261" caption="&amp;lt;p&amp;gt;BI India&amp;lt;/p&amp;gt;"></div> After the pause Kalyanraman said that consumers tend to take a pause during major macro-economic changes but that hasn’t affected brand’s long-term sales. “It [fluctuation] does not impact our sales because the customer comes with a budget and they buy for the money they have. So, if the gold price is more the volume will be lesser, if the gold price is low, then the volume will be higher, because customers come with a budget and they adjust accordingly,” said Kalyanraman. To deck up for the festive season, Kalyan Jewellers is now working on increasing its retail footprint in non-Southern India by another 8%, before Diwali this year. Platinum industry expects a buoyant consumer sentiment <div type="image" title="Caratlane" msid="93654919" hostid="261" caption="&amp;lt;p&amp;gt;Caratlane&amp;lt;/p&amp;gt;"></div> The platinum market too is gaining back its lustre after a lull. In Q4 FY22, it grew 30% year on year on the back of the wedding and festive season. It’s expected to return to pre-pandemic levels. Platinum Guild International-India’s managing director Vaishali Banerjee told Business Insider India that it has been encouraging to see platinum jewellery moving in a positive direction. “This year's H1 has seen tremendous recovery and phenomenal growth, with weddings and the festive season returning after two years. With the unlock phases post-Covid , platinum has been able to maintain a consistent and strong position in the Indian jewellery industry,” she said. Banerjee’s outlook for the second half of 2022 is equally positive. “We are hopeful that this growth trajectory will continue in H2. During the last quarter, the already buoyant consumer sentiment and positivity are expected to further increase due to the convergence between the festive and wedding seasons. This extremely important jewellery purchase period will be built through various consumer and trade marketing campaigns by PGI and its strategic partners," said Banerjee. Ovals, emeralds, long radiants, long cushions Despite a supply cut from Russia, <keyword id="10056" type="General" weightage="20" keywordseo="diamond-jewellery" source="Orion">diamond jewellery</keyword> brands too expect good sales. “The forthcoming season is always important for the diamond industry. It is the season to sparkle! Jewellers and retailers replenish their stocks during August and September to fulfill their orders for the festive and wedding season. To meet the demands of the retailers and jewellers there is enough inventory and supply of natural diamonds of all shapes and sizes,” said Rajesh Shah, partner, Venus Jewel. Diamond manufacturing, said Shah, is demand-led, which means the production automatically changes as demand grows. This time, ovals, emeralds, long radiants, long cushions and diamonds are in demand. For Caratlane, Dhanteras, Akshay Tritiya and Valentine’s day contribute over 45% to its revenue. “We have done a lot of preparations to be ready in time for the season in terms of adding more designs, more inventory, marketing actions, all of those are also on track. We feel a lot of confidence and optimism about the season,” Avnish Anand, COO and co-founder of CaratLane told Business Insider India.

You Searched For "melorra revenue" and got 2 results

Melorra aims to become a ₹160 crore brand by the end of FY20 despite the economic slowdown and higher gold prices

Karuna Sharma

Jewellery brands deck up in hope of bumper festive sales ahead

Karuna Sharma

Popular Keywords

Buying Guides