Melorra, a lightweight fine jewellery brand for everyday wear, has allocated $50 million to its offline foray, with plans to set up 350 stores in metros and smaller towns over the next six years, a top executive told BusinessLine .
Melorra opened its first brick-and-mortar store, a women-centric jewellery experience centre in Orion Mall, Rajajinagar, Bengaluru on Monday. This will be followed with store launches in Delhi in January, and Mumbai within the next six months. The stores, which will primarily be located in malls and high streets across India, will range from 500-1,500 sq ft in size and showcase 500-1,000 jewellery designs. Built in line with the online experience that Melorra currently offers, the experience centre will be driven by the brand’s three pillars — fashion, technology and variety.
“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. Customers can also browse from a vast digital catalogue of over 10,000 unique, contemporary, light-weight gold and diamond jewellery designs,” said Saroja Yeramilli, founder and CEO, Melorra.
“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,” she added.
Functionally, the stores are designed for customers to shop online and pick up in store; shop in-store and ship to home, and everything in between. Customers will be welcomed with full-length mirrors and in-store stylists available as advisors and consultants.
Asked how much each store will add to Melorra’s topline, Yeramilli said “We expect about 55-60 per cent of our topline to come from these 350 experience centres in the next six years. And expect to clock ₹100 crore in FY21 and ₹430 crore in FY22. Since 2016, Melorra has delivered to over 1,900 towns in the country, from villages with a population of less than 10,000 to cities with a population above one million.”
Melorra recently raised $12.50 million in an oversubscribed funding round led by Symphony Asia, 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.