Senco Gold’s promise of ‘affordable luxury’ with Sennes 

A century-old legacy surely adds heft to a business. However, if the business chooses to bask in the glory of its legacy and not reinvent, it could run the risk of an existential crisis. Suvankar Sen, MD & CEO, Senco Gold, the fourth generation of the Kolkata-headquartered ₹8,000 crore jewellery company, realised early on that staying cued in to evolving consumer needs and innovating was the only way to keep his family’s legacy alive and strong.

Suvankar and his wife, director and head of marketing, Joita Sen, have always ensured that their business has followed the principle of being innovation-first. Be it their lightweight jewellery collection, Everlite, in the late 2000s, Gossip, the silver and fashion jewellery brand, or, more recently, their titanium collection for men, the duo claim that innovation has been the cornerstone of their strategy. “I think we are among the first jewellers to come up with a titanium collection,” says Joita, as she shows off her latest collection at Senco Gold’s flagship store at Moulali in Kolkata.

What currently excites them most is Sennes, their three-year-old lab-grown diamond brand, which also offers leather bags and accessories as well as fragrances. “We were convinced that there was a consumer for lab-grown diamonds, as not all the time can one afford natural diamonds. We were the first organised jewellers to launch a lab-grown diamond brand,” claims Suvankar.

One doesn’t find Sennes lab-grown diamond jewellery at Senco Gold stores. “At Senco, we sell natural diamonds; one can’t sell lab-grown diamonds in the same store,” explains Joita. But the Moulali store of Senco Gold does have Sennes bags and fragrances on display. A Sennes leather bag is priced at around ₹8,000-₹22,000, while a fragrance costs upwards of ₹1,000. It also sells Gossip (silver and fashion jewellery).

While the women of a family of five are shopping for wedding jewellery at the Moulali store, the men are checking out the perfumes and leather accessories. Joita says accessories and fragrances, along with Gossip (the silver and fashion jewellery brand), in the same store complement the gold jewellery. “Along with gold jewellery, a bride also needs jewellery for other functions too, for which she may not want to invest in gold.”

She points at a black leather bag, which she says is inspired by the Indian potli. “Our inspirations are Indian, but we give them a global twist,” she says. The Sennes leather collection has been designed in Italy and was launched on the sidelines of Milan Fashion Week.

Suvankar’s game plan is to position Sennes as ‘affordable luxury’. The three-year-old brand is yet to touch the ₹100 crore revenue target, but it already has 17 standalone stores. The plan is to expand its retail footprint, especially in tier-2 and tier-3 India, with its aspirational products.