Kalyan Jewellers opens 10 stores in Q4, revenue rises 34 percent

Kalyan Jewellers reported a 34 percent year-on-year growth in revenue for the January-March quarter driven by strong footfalls ahead of the wedding season.

The company’s revenue for the financial year 2023-2024 rose by 31 percent.

In the Middle East, the company witnessed revenue growth of 14 percent as compared to the same period in the previous financial year driven largely by same-store-sales growth.

During the quarter, Kalyan Jewellers expanded its presence by adding 10 new ‘Kalyan’ showrooms in India, with nine following the franchise-owned-company-operated model.

The company’s digital-first jewellery platform, Candere recorded a revenue growth of 12 percent during the quarter.

“We are upbeat about the ongoing quarter and are witnessing encouraging trends in the advance collections for both Akshaya Tritiya as well as for wedding purchases for the festive/wedding season. As previously announced, in FY2025 we plan to launch a minimum of 130 showrooms in India (80 Kalyan and 50 Candere) and 6 showrooms across Middle East and USA,” Kalyan Jewellers said in a business update.

During the financial year 2024, Kalyan Jewellers launched 71 showrooms taking the total number of showrooms to 253 across India and the Middle East.