Jewellery brands Kalyan, Senco bet big on advertising to derive festive sales despite soaring gold prices

India’s leading jewellers managed to navigate soaring gold prices during the second quarter of FY26, driven by festive demand and increased marketing spends aimed at boosting consumer sentiment.

Kalyan Jewellers, one of the country’s largest jewellery retail chains, said that among its ten core competitive strengths, marketing and promotions continue to play a pivotal role in reinforcing its local touch while maintaining a consistent brand message across India.

The company spent Rs 108.8 crore on advertising and marketing in Q2 FY26, compared to Rs 101.8 crore in the same quarter last year — a 7% year-on-year increase. Sequentially, its marketing spend rose 13% from Rs 96.2 crore in Q1 FY26.

Kalyan Jewellers also said it is investing in CRM systems, targeted campaigns, and advanced technologies to analyse and manage customer interactions throughout the customer lifecycle, with an aim to strengthen long-term relationships, enhance retention, and drive sales.

Meanwhile, Senco Gold & Diamonds ramped up its marketing expenditure by 46.6% YoY to Rs 40.83 crore in Q2 FY26 from Rs 27.85 crore in Q2 FY25. In the first half of FY26, the brand spent Rs 83.4 crore on marketing alone.

“The company launched multiple festive and brand campaigns, including Teej, Monsoon Edit, Rakhi, Azadi Utsav, and Varalaxmi, along with creative initiatives such as Elements of Nature, Aparupa 2.0, Everlite – Shakti Collection, and Gossip – Tattva Collection, to constantly delight customers,” Senco said in a statement.

Bluestone Jewellery and Lifestyle Ltd reported that advertising and promotional expenses accounted for 8.2% of revenue during the quarter, down 220 basis points year-on-year but higher sequentially. The company attributed this to early festive spending and strong consumer response to its ‘Big Gold Exchange’ programme.

PC Jeweller Ltd, though not disclosing its marketing spends, said it will continue to prioritise business development, enhance brand visibility, and adapt to evolving consumer preferences.

According to industry estimates, the Indian jewellery market is on track to reach $140 billion by 2029, up from $67 billion in 2023, driven by rising disposable incomes, the growing preference of young urban consumers for fashionable jewellery, and the increasing purchasing power of financially independent women.

Gold prices in Delhi edged higher on Thursday, with 24-karat gold trading at Rs 12,795 per gram (up Rs 229), 22-karat at Rs 11,730 per gram (up Rs 210), and 18-karat at Rs 9,600 per gram (up Rs 172).