Kalyan Jewellers reports strong growth in Q2 FY2025  

Candere, Kalyan’s digital venture records a revenue growth of around 30% compared to the previous year 

Mumbai— Kalyan Jewellers has announced a robust performance for the second quarter of FY2025, achieving a consolidated revenue growth of approximately 37% compared to the same period last year. 

In India, the company recorded a revenue increase of about 39% in Q2 FY2025, driven by strong operational momentum across all markets and an impressive same-store sales growth of around 23%. A recent reduction in customs duty on gold imports, announced during the Union Budget, led to a significant uptick in customer footfalls from late July through the end of August. This surge largely offset the usual slowdown associated with the 14-day Shradh period, during which sales typically dip. Notably, only two days of Shradh were part of the comparable quarter in the previous year. 

During this quarter, Kalyan Jewellers launched 15 Franchisee-Owned-Company-Operated (FOCO) showrooms in India, with plans for additional openings throughout October as part of its expansion strategy. 

In the Middle East, the company experienced a revenue growth of approximately 24% year-over-year, contributing about 13% to the consolidated revenue for the quarter. The company also completed its initial phase of converting owned showrooms to FOCO showrooms, bringing the total number of franchised locations in the region to four. 

Kalyan Jewellers’ digital-first platform, Candere, also saw significant success, recording a revenue growth of around 30% compared to the previous year. The company launched 12 Candere showrooms in Q2 FY2025. 

Looking ahead, Kalyan Jewellers is on track to open over 130 new showrooms this financial year. In addition to the 51 already launched, plans are in place for approximately 25 more Kalyan showrooms in India, 18 Candere showrooms, and the first showroom in the U.S. by Diwali. With the festive season underway, the company is preparing for further growth through new showroom launches, fresh collections, and marketing campaigns. 

As of September 30, 2024, Kalyan Jewellers has a total of 303 showrooms, including 231 in India, 36 in the Middle East, and 36 Candere locations. The company’s positive results reflect its commitment to expanding its presence and catering to a growing customer base. 
 
 

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