Senco Gold Targets Struggling Melorra For Acquisition As Financial Troubles Mount
As the negotiations continue, the final outcome remains uncertain, according to reports
According to media reports, Kolkata-based jeweller Senco Gold, which recently listed on public markets, has placed a bid to acquire the omnichannel jewellery brand Melorra. This move aims to expand Senco's presence in the online ecommerce space.
Senco, as per media reports, in talks to acquire Melorra for a deal valued between Rs 40 crore - Rs 50 crore. However, the valuation is still being negotiated, and the deal size could change as discussions proceed, according to media sources.
Melorra, which has raised over USD 88 million in funding from prominent investors like Lightbox, Norwest Ventures, 100Unicorns, and Value Quest, is facing financial difficulties, including reports of ceasing salary payments. As the negotiations continue, the final outcome remains uncertain, according to reports.
