KOCHI: Kalyan Jewellers reported a good performance for the last quarter, recording approximately consolidated revenue growth of around 37 per cent, over the year, across all its operational key markets.
In India, revenue was up 39 per cent in Q2 FY2025, in spite of the 14-day Shradh period which normally is a constraint to sales due to the 23 per cent same-store sales growth.
The footfall spike, as a result of the Union Budget announcement of reduction of the customs duty on gold, was able to mitigate this seasonal decline, particularly in the last week of July into August.
15 FOCO showrooms
The company is still on its aggressive course of expansion, as it opened 15 Franchisee-Owned-Company-Operated (FOCO) showrooms in India during the quarter, with additional openings lined up in October.
The Middle East operations of Kalyan also performed well with a 24 per cent growth in revenues compared with the previous year.
This region now has four franchised showrooms after the transformation of owned outlets to the FOCO model, and contributed 13 per cent of the consolidated revenue from the Middle East region.
Candere,
Additionally, on the digital side, Kalyan’s online-first jewellery brand, Candere, witnessed a 30 per cent revenue growth while adding 12 new showrooms.
According to the previously circulated plan of launching 130+ new showrooms during the current financial year, 51 new showrooms have already been opened.
It is told that there are plans for Kalyan to come up with around 25 more Kalyan showrooms in India, around 18 Candere showrooms and first Candere showroom in US.
