Senco Gold Limited has entered into a Master Franchise Agreement with August Jewellery Private Limited, whereby all existing Company owned & Company operated (COCO) stores will be operated by Senco as Franchisee of AJPL, while the Franchisee owned & Franchisee operated (FOFO) and Franchisee owned Company operated (FOCO) stores of AJPL will become Senco's sub franchisee. All the terms of conditions of existing Franchise agreement will remain same and Senco as Master Franchisee will be responsible for all commercial implication of such existing franchise agreements. Senco becomes Master Franchisee of Melorra.
All existing COCO stores will be operated by Senco as Franchisee of Melorra. All Existing Franchisee stores (FOCO and FOFO) will become sub franchisee of Senco. Right to open new Franchisee will vest with Senco as Master Franchisee.
Vide the agreement, Senco becomes exclusive Master Franchisee of Melorra to run and operate the stores of Melorra. The stores shall exclusively sell the products of Melorra. The tenure of the agreement is untill 30th September 2025.
Access to Youth and GenZ with high brand recall. Incremental sales of high margin Diamond Jewellery; Access to over 20 stores of AJPL.
