Kalyan Jewellers Shines with Revenue Surge Amid New Launches

Kalyan Jewellers reported a 39% growth in revenue from its India operations in Q2 2024-25, owing to increased footfalls and same-store sales. The custom duty reduction on gold imports boosted demand, despite market volatility. The company plans expansion with new showrooms in India, US, and the Middle East.

Kalyan Jewellers has announced a remarkable 39% revenue growth for its India operations during the second quarter of fiscal year 2024-25. This surge, as reported in a regulatory filing with BSE, is attributed to robust footfalls and a healthy same-store sales growth of 23%.

The growth was significantly buoyed by a reduction in custom duty on gold imports included in the 2024-25 Union Budget, which spurred a surge in demand from late July through August. This uptick came despite the typically muted sales during the 14-day Shradh period and volatility in gold prices.

On an international note, Kalyan Jewellers recorded a 24% revenue increase in the Middle East. The period also marked strategic expansion, with the initial conversion of owned showrooms to FOCO showrooms. The quarter concluded with plans to launch 25 new Kalyan showrooms in India, 18 Candere outlets, and the first US showroom to mark Diwali celebrations.

(With inputs from agencies.)