Kalyan Jewellers records 37% growth for Q2 FY2025
Its India operations witnessed revenue growth of approximately 39% during Q2 FY2025 as compared to Q2 FY2024, led by robust operating momentum on the ground across all markets with healthy same-store-sales-growth of approximately 23%
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For Q2 FY2025, Kalyan Jewellers recorded consolidated revenue growth of approximately 37% when compared to the same period in the previous financial year.
Its India operations witnessed revenue growth of approximately 39% during Q2 FY2025 as compared to Q2 FY2024, led by robust operating momentum on the ground across all markets with healthy same-store-sales-growth of approximately 23%. Custom duty reduction on gold imports, announced during the Union Budget, resulted in significantly higher levels of footfalls from the last week of July till the end of August mostly negating the impact of 14 days of Shradh (when sales are typically more muted) during the quarter and extreme volatility in gold prices. In comparison, only two days of Shradh were part of the second quarter in the base year.
Kalyan Jewellers launched 15 Franchisee-Owned-Company-Operated “FOCO” showrooms in India during the recently concluded quarter, with a strong pipeline of showrooms set to open over the course of October.
Its digital-first jewellery platform, Candere, recorded a revenue growth of approximately 30% during the recently concluded quarter as compared to the same period during the last year. It launched 12 Candere showrooms during Q2 FY 2025.
In a company statement, it shared, "As part of the previously communicated plan of launching 130+ new showrooms during the current financial year, in addition to the 51 showrooms already opened, we have drawn up plans to launch another ~25 Kalyan showrooms in India, ~18 Candere showrooms and the first showroom in the U.S. by Diwali. The festive season has just started and we are gearing up with showroom launches, fresh collections and campaigns."
During the recently concluded quarter, Kalyan Jewellers launched 26 net showrooms across Kalyan and Candere formats taking the total number of showrooms as on 30th September 2024 to 303 (Kalyan India – 231, Kalyan Middle East – 36, Candere – 36).
