Latest News | Melorra Clocks ARR of USD 100 Million

New Delhi, Nov 28 (PTI) 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.

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"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.

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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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)