Update Theme

Firstly, you need to download the new theme package from your Themeforest account. Once you have the new theme package, you can upload the theme via WordPress.

Update theme via WordPress

Step 1: You need to deactivate the current Molly theme in Appearance > Themes section by simply activating a different theme. Once you activate a different theme, you can go to theme details to delete the Molly theme.

Step 2: Retrieve the Molly.zip file from your new Themeforest download. If you download All files & documentation, then you need to unzip the archive file you received, the Molly.zip file will be inside of it.

Step 3: Then simply upload and activate the Molly file in the Appearance > Themes section like you've done when installing theme.