D2C startup Melorra clocks annual recurring revenue of $100 million
Melorra currently has 23 new-age brand experience centres across India and plans on increasing this number to 350 by FY26.
D2C startup Melorra, which deals in jewellery, on Monday said it has clocked an annual recurring revenue of USD 100 million. Annual recurring revenue (ARR) refers to projected revenue that a company expects to receive from its customers in 12 months.
"We look forward to continuing to bring the lightweight, trendy gold jewellery to our customers and grow further, reaching USD 1 billion in revenue by 2026. Our customers are in every nook and corner of India. We put in all efforts to make modern jewellery, which is lightweight and easy on the pocket, available to everyone," Melorra Founder and CEO Saroja Yeramilli said.
Melorra claims that the new milestone of the company clocking USD 100 ARR (Annual Recurring Revenue) in six years of its operations catapults the jewellery brand in becoming one of the fastest-growing D2C brands in terms of revenue in the country.
Melorra currently has 23 new-age brand experience centres across India and plans on increasing this number to 350 by FY26. The company recorded a revenue of USD 10 million in the financial year (FY) 2021 which grew to USD 50 million in FY22.
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