The Bengaluru-based company has gone from being a promising D2C jewellery brand to a shadow of its former self, thanks to a much-delayed, haphazard expansion strategy
Melorra is in a spot.
The direct-to-consumer jewellery startup hasn’t been paying its employees, according to a current employee and a former one, who spoke on condition of anonymity. Some employees have also taken to social media platforms like LinkedIn and X (formerly Twitter) to air their grievances. Apart from that, data from the Employees Provident Fund Organisation shows that the Bengaluru-based company hasn’t paid its employees PF money since the beginning of the ongoing fiscal (Melorra is yet to file its financials for the two preceding fiscal years).
That’s not all. Its valuation has dropped as much as 10x …
Parvathi covered tech startups and large corporates at The Morning Context. She has been a journalist for eight years. Previously, she worked as a data journalist at The Hindu BusinessLine.
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parvathi@mailtmc.com
Chennai