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Tag: melorra

  • Melorra set to revolutionize shopping for gold with its brick-and-mortar store launch

    Melorra set to revolutionize shopping for gold with its brick-and-mortar store launch

    India’s fastest growing lightweight fine jewellery brand designing affordable jewellery for everyday wear, recently launched its first brick-and-mortar store in Orion Mall, Rajajinagar Bangalore on 21st December 2020.

    The women-centric jewellery ‘experience centre’ for millennials is fresh and fun, driven by Melorra’s three pillars — fashion, technology and variety. The launch was attended by Siddharth Talwar, Co-Founder and Partner at Lightbox, Sandeep Murthy, Partner at Lightbox and Nirupa Shankar, Executive Director, Brigade Group.

    Built in line with the online experience that Melorra currently offers, the physical outlets are unique, fresh, and iconic. The brand aims to enhance a customer’s sense of touch, feel and trial of Melorra jewellery, through the experience centre.

    Speaking about this, Saroja Yeramilli, Founder and CEO, Melorra, said, “Melorra’s journey in the jewellery world has been completely unique in every respect. From online to offline, the launch of the retail stores will provide a seamless, customer-in-control experience. We are a brand taking inspiration from global fashion trends, and launch a new collection every week. Melorra is known for its design innovation offering customers easy to wear, comfortable everyday jewellery. We offer the largest range of over 10000 unique, contemporary, lightweight gold and diamond jewellery designs.”

    Adding further, Saroja Yeramilli said, “At our physical stores, customers can shop worry free with the option of a digital checkout. They walk in not just to buy jewellery, but also to get informed about global fashion trends. There is a Bliss Bar wherein women can get along their friends, have fun trying Melorra’s latest jewellery or just go through the recent trends.”

    Functionally, the stores are designed for any of the many journeys a customer may choose to adopt: shop online pick up in store; shop in store ship to home and everything in between.

    Melorra warmly welcomes their customers with beautiful full-length mirrors and in-store stylists available as advisors and consultants, enabling the woman to build her fashionable fine jewellery wardrobe. The brand aims to give its customers a high-energy and high-fashion experience – with the physical stores becoming a super happy place to be!

    Melorra has been a disruptor in the jewellery industry since it started operations in 2016. The brand is redefining the way fine jewellery is being perceived and worn. So far, Melorra has delivered to over 1900 towns in the country and made its mark everywhere – from villages with a population of less than 10,000 to cities with population above 1 million.

    Melorra recently raised US $12.50 mn in an oversubscribed funding round led by Symphony Asia (one of Asia’s first private equity firms), Lightbox Ventures, Alteria Capital and other leading family offices. The brand has been recording accelerated growth in order value and numbers ever since the lockdown was lifted.

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  • Online jewellery brand Melorra aims Rs 40 cr revenue this fiscal

    Online jewellery brand Melorra aims Rs 40 cr revenue this fiscal

    Online jewellery startup Melorra aims nearly five times jump in its revenue at Rs 40 crore in the current fiscal on bullish demand from non-metro cities, Saroja Yeramilli, Founder and Chief Executive said Tuesday. According to a report: The company, which sells contemporary lightweight jewellery in gold, diamond and coloured stones, had clocked a revenue of Rs 8.5 crore in the first year (2017-18) of its business, she added.

    “Much of the demand is coming from non-metro cities. We are getting orders from smaller cities and adding 100 new cities for delivery every month. We expect our revenue to touch Rs 40 crore this fiscal,” Yeramilli said.

    With rise in Internet and smart phones users, the company expects revenue to touch Rs 100 crore mark in the next fiscal and start making profits from 2021 onwards, she said.

    The company’s unique selling point is affordable rates, modern designs and quality of gold and diamonds from recognised agencies, she added.

    That apart, the Bengaluru-based company does not carry any inventory as it makes gold jewellery on order and delivers to customers with a return policy in 30 days and lifetime exchange of jewellery at prevailing rates of gold.

    On investment plans, Yeramilli, who had once headed sales division at Tata group jewellery brand Tanishq, said the jewellery start-up has already raised US$ 12 million from a venture capitalist, out of which US$ 8 million has been spent on the business.

    “We still have funds. We will invest that and later look for more funds. Funding has not been a problem. Investors are keen to invest in our company,” she further said.

    Asked if the company would go offline, Yeramilli said, “There are no plans to set up retail outlets. Melorra is an internet brand and it will remain like that.”

    With 100 employees recruited at present, the company plans to expand its marketing and technology division to cater to the growing online customers, she added.