Jewellers

WGC says fundamentals will keep gold strong in 2026 as India drafts a long-term gold policy, with rising wedding budgets, ETF demand and a push to privatise monetisation schemes

India's gems and jewellery exports grew 19.64 per cent to USD 2.5 billion in November compared to the same month last year, according to the Gem and Jewellery Export Promotion Council (GJEPC). Total exports stood at USD 2.1 billion during the corresponding month of the previous year, according to GJEPC data. The overall exports of gems and jewellery were flat at USD 18.86 billion during April-November period as compared to USD 18.85 billion in the same period of last year. The overall gross export of Cut & Polished diamonds was at USD 919.74 million in November as compared to USD 666.34 million in the same period of the previous year. Provisional gross export of Polished Lab Grown Diamonds witnessed a 10.55 per cent rise in November at USD 76.09 million over USD 68.83 million a year ago. Meanwhile, volatile prices affected gold jewellery exports which were flat at USD 1.21 billion in November against USD 1.23 billion a year ago. Studded gold jewellery shipments surged to USD ...

With budgets under strain, shoppers are turning to old jewellery to meet new needs

Kalyan Jewellers on Friday reported a 37 per cent year-on-year increase in consolidated revenue for the fourth quarter of FY2024-25, despite extreme volatility in the gold prices. The company reported a consolidated net revenue of Rs 4,563.72 crore in the fourth quarter (January-March) of the 2023-24 fiscal. India operations saw 39 per cent revenue growth during the March quarter of the fiscal 2024-25, with 21 per cent same-store sales growth, the company said in a regulatory filing. The revenue from the Middle East operation rose 24 per cent, contributing 12 per cent to consolidated revenue. The company said 25 Kalyan showrooms and 14 Candere showrooms were opened during Q4 in India. The Candere segment recorded a revenue growth of 22 per cent during the reported quarter of 2024-25. The company plans to launch 170 new showrooms across Kalyan and Candere formats. "We have completed signing Letter of Intents for the Franchisee Owned Company Operated (FOCO) showrooms planned for t

The Watches & Wearables domestic growth was 13 per cent Y-o-Y, with analog watches clocking a robust 19 per cent growth

The rise in the PN Gadgil share came after domestic brokerage firm Motilal Oswal initiated coverage with a 'Buy' rating for a target price of Rs 950, reflecting an upside of 24%

Conservative buyers gravitated toward Shagun coins, while younger ones chose lightweight or 18k jewellery

Dhanteras has begun on a slow note and jewellers expect footfalls to pick up and sales to increase even as the high gold price is likely to dampen the festive demand for the yellow metal. "Being a weekday we are seeing few footfalls in the morning hours as people are going to attend office. However, we are expecting the rush from afternoon, that is 2-2.30 pm, till late evening," All India Gem And Jewellery Domestic Council chairman Saiyam Mehra told PTI. He said, volume-wise sales will be impacted due to the ruling high gold prices and expect to do business either 5 per cent lower than last year or same as last year this Dhanteras, which is considered an auspicious day for purchasing precious metals, gold and silver jewellery. "We are expecting 20 tonnes of sales this Dhanteras, which is the same as last year, however, higher gold prices may impact the sales," he added. Gold prices fell Rs 400 to Rs 81,100 per 10 grams in the national capital on Monday. The precious metal of 99.9 p

Jewellery retail chain PN Gadgil Jewellers Ltd on Monday said it has raised Rs 330 crore from anchor investors, a day before its initial share-sale opening for public subscription. ICICI Prudential Life Insurance Company, Tata Mutual Fund (MF), Axis MF, Mirae Asset MF, HDFC MF, Bandhan MF, Nippon India MF, Goldman Sachs (Singapore) Pte, Citigroup Global Markets Mauritius, Societe Generale, Troo Capital, The Jupiter Global Fund are among the anchor investors. According to a circular uploaded on BSE's website, the company has allocated a total of 68.75 lakh equity shares to 33 funds at Rs 480 apiece, which is also the upper end of the price band. This aggregates the transaction size to Rs 330 crore. The Rs 1,100-crore initial public offering (IPO) will open for subscription on September 10 and conclude on September 12. The price band has been fixed at Rs 456 to Rs 480 per share. The Maharashtra-based company's IPO is a combination of a fresh issue of equity shares worth up to Rs 850

Shares of the jewellery retailer rose 9 per cent to end at Rs 597.5 on the BSE

Kalyan Jewellers said on Monday it will acquire the remaining 15 per cent stake in its e-commerce subsidiary Enovate Lifestyles, which operates under the brand Candere, for Rs 42 crore. The deal, to be completed in three tranches, will make Candere a wholly owned unit as Kalyan Jewellers shifts focus from pure e-commerce to an omnichannel strategy, the company said in a regulatory filing. Kalyan Jewellers first acquired a majority stake in Candere in 2017 to enter the online jewellery market. The latest transaction involves buying 57,320 equity shares from existing shareholder Rupesh Jain. "We're excited to explore an emerging market segment within the jewellery industry, focusing on lightweight, fashion-forward designs," Managing Director T S Kalyanaraman said. Candere, which reported an annual revenue of Rs 130.3 crore in the 2023-24 fiscal, launched 11 physical showrooms last year and plans to quadruple its offline presence this fiscal.

Jewellery retail chain P N Gadgil Jewellers Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,100 crore through an initial public offering (IPO) to fund its expansion and pare debt. The Maharashtra-based company's proposed IPO is a combination of a fresh issue of equity shares worth up to Rs 850 crore and an offer for sale (OFS) of equity shares to the tune of Rs 250 crore by a promoter SVG Business Trust, according to the draft red herring prospectus (DRHP). At present, SVG Business Trust holds 99.9 per cent stake in P N Gadgil Jewellers. Of the IPO proceeds of Rs 850 crore, a total of Rs 387 crore will be utilised for the funding of expenditure towards setting up of 12 new stores in Maharashtra, Rs 300 crore for payment of debt, besides a portion will also be used for general corporate purposes. As on February 29, 2024, the company had total outstanding borrowings of Rs 377.45 crore, as per the draft papers filed last week. P N Gadgil Jewellers

The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 77,900

Several jewellery retailers have joined the bandwagon of the Ram Temple consecration, unveiling new collections with temple-style motifs and imagery of Lord Ram. Senco Gold & Diamonds has launched its 'SiyaRam' collection, while Kalyan Jewellers introduced 'Nimah', a heritage jewellery line-up, company officials said. "The atmosphere of devotion to Lord Ram is palpable everywhere in anticipation of the Ram Mandir inauguration, said Suvankar Sen, MD & CEO of Senco Gold & Diamonds. The designs capture the grandeur of the Ram Mandir, commemorating the legendary moment of Lord Ram and Sita's coronation, he said. The new collection captures the essence of exemplary leadership, companionship and devotion, and highlights delicate craftsmanship, Sen said. Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers, said the 'Nimah' collection is a celebration of our rich heritage, cleverly reimagined through contemporary design and adorned with precious stones. The design is ...

The Rs 100 crore-initial share sale of RBZ Jewellers received 16.86 times subscription on the closing day of bidding

RBZ Jewellers on Monday said it has fixed a price band of Rs 95-100 per share for its initial share sale that will open for public subscription on December 19. The three-day Initial Public Offering (IPO) will conclude on December 21, the company said in a statement. The IPO is entirely a fresh issue of 1 crore equity shares with no offer for sale (OFS) component. The Ahmedabad-based B2B and retail jewellery firm would raise Rs 100 crore through the issue at the upper end of the price band. Proceeds from the issue will be utilised for funding the working capital requirements of the company and for general corporate purposes. The company's revenue from operations rose 14 per cent to Rs 289.6 crore in fiscal 2023 from Rs 252.5 crore in fiscal 2022. Besides, profit after tax surged 55 per cent to Rs 22.43 crore in fiscal 2023 from Rs 14.48 crore in the preceding financial year. Arihant Capital Markets Ltd is the sole book-running lead manager to the issue. The equity shares are propo

The deals took place at around Rs 1,832 apiece. Shares of Mankind fell 3.6 per cent to close at Rs 1,849

Over century-old noted jewellery retailer Vummidi Bangaru Jewellers has forayed into the United States market with the launch of a new store in Dallas, the company said on Wednesday. Over the next three years, the company has planned to strengthen its presence with three more stores in the US and eight in Tamil Nadu with an investment of Rs 1,850 crore. With the foray into the United States, the jeweller plans to garner USD 100 million in revenue in a year and expects at least 30 per cent of this to contribute to the overall business in the next three years. "The first store in Dallas is a testimony to the fact of what our customers need in the United States. Each and every piece of jewellery reflects the ethos of VBJ in quality, contemporary style, and design," Vummidi Bangaru Jewellers Managing Partner Amarendran Vummidi said. "We are planning to open three more in Chicago, Virginia and California in the next three years," he said on the expansion plan. The facility in Dallas, .

Leading jewellery firm Joyalukkas India Pvt Ltd plans to invest about Rs 2,400 crore in the next two financial years to open 30 new showrooms in India and ten outlets abroad, according to Chairman and Managing Director Joy Alukkas. The company is also preparing for an IPO (initial public offering) for further expansion of its business, he said. Currently, Joyalukkas has 100 showrooms in India and 60 outlets in ten countries. "We have plans to expand our operations both in India and abroad. We are targeting to open 30 new showrooms in India, while ten outside India in the next two financial years 2024-25 and 2025-26," Joy Alukkas told PTI in an interview. Alukkas said the company will invest on an average about Rs 60 crore on each showroom. "The total investment for opening 40 showrooms will be Rs 2,400 crore," he said. Around 30 showrooms will be opened mostly in north India, while ten of them in other countries including Canada and Australia. The investments will be made from .

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