Kalyan Jewellers has posted impressive results for the third quarter of FY2025, with consolidated revenue surging by approximately 39% compared to the same period last year, driven by strong demand in both domestic and international markets.
The company’s performance in India was particularly noteworthy, with revenue growth of 41% year-over-year. This growth was largely fueled by high demand during the festive and wedding seasons across its gold and studded jewelry categories. Same-store sales in India also saw a healthy increase of 24% during the quarter, signaling the continued strength of the brand in the local market.
In a major push for expansion, Kalyan Jewellers opened 24 new showrooms in India during Q3 FY2025 and has plans to open 30 more showrooms in the current quarter. The company’s aggressive growth strategy in India remains a focal point, contributing significantly to its overall success.
Overseas, Kalyan Jewellers achieved a 22% revenue growth in the Middle East, contributing about 11% to the company’s consolidated revenue. The company also made its debut in the United States with the opening of its first Company-Owned, Company-Operated (COCO) showroom.
The company’s digital segment also showed remarkable progress, with its online jewelry platform, Candere, experiencing an 89% year-over-year increase in revenue. Candere’s physical presence expanded as well, with the opening of 23 new showrooms in Q3 FY2025.
Looking ahead, Kalyan Jewellers remains on track to meet its ambitious showroom rollout targets. The company plans to open 30 Kalyan and 15 Candere showrooms in India in the current quarter, ahead of its goal to open 80 Kalyan and 50 Candere showrooms across India in FY2025.
For FY2026, the company has set an ambitious target of launching 170 new showrooms, including 75 Kalyan showrooms outside of South India, 15 in South India and international markets, and 80 Candere showrooms in India. Kalyan Jewellers has already started signing Letters of Intent for Franchisee-Owned, Company-Operated (FOCO) showrooms, which will be pivotal to this expansive growth.
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