There are discernible changes taking place in Kolkata based Senco Gold & Diamonds as it tries to shed off its regional tag and become a national player ever since it received Rs 80 crore in funding from VC firm Saif Partners.

Suvankar Sen, who now helms Senco, has roped in former Indian cricket captain Saurav Ganguly to be its brand ambassador, and has tied up with e-tailer Amazon to sell its line of jewellery online. Designations such as CMO or CFO, unheard of in a traditional jewellery business, have been introduced since the past year. Sen has roped in Rio Tinto India marketing head Premjit Sengupta as the CMO of the company, while Sabyasachi Gooptu, who has worked with Britannia, Kesoram, D'decor Home Fabrics, have become its CFO, and has been tasked with readying the IPO of the company .

"In 2008-09, we decided to enter the capital markets, but dropped the plan due to the 2008 recession.Subsequently , talks began with PE funds and finally last October, we received Rs 80 crore from Saif Partners," said Sen, executive director, Senco Gold & Diamonds.

The PE fund that valued the firm Rs 400 crore had acquired a 20 per cent stake in it. Besides Senco, only a handful of jewellery firms have re ceived PE funding, including Kalyan Jewellers, Gitanjali and Shree Ganesh Jewellery .

CMO Sengupta explained PE funds invest in a company only after doing due diligence. "In that sense, Senco has earned the reputation of a transparent player in the jewellery market," he said, adding talks are on with a leading Bollywood actress to endorse Senco's brands nationally.

The firm has moved its office from 2,500 sq ft space near Sealdah station to a 10,000 sq ft swanky place in the heart of the city. In its effort to become a national player, Senco has rechristened itself to Senco Gold & Diamonds.

"This was done because we have entered the diamond jewellery business. Today, the ratio of gold to diamond jewellery is 80:20. But soon it will change to 35:65. We have also appointed a Mumbai-based advertising agency Metal Advertising to handle our account. The new agency has dealt with Platinum Guild International account, and therefore has an experience in jewellery," he said. "Much needs to be done," said Sen, who has been taking interest in jewellery business from the age of 14.

Courtesy-ET