Jewellery Industry

Louvre to remain closed one day after jewel heist, here's what to know

The Louvre said on Monday it would remain closed a day after historic jewels were stolen from the world's most-visited museum in a daring daylight heist. The museum's staff asked dozens of visitors who were queuing in front of the glass pyramid entrance to leave the site. In a message posted on the social media, the Louvre said visitors who have booked tickets will be refunded. It did not provide additional details. On Sunday, thieves rode a basket lift up the Louvre's facade, forced a window, smashed display cases and fled with priceless Napoleonic jewels, officials said. The theft about 30 minutes after the museum opened, with visitors already inside, was among the highest-profile museum thefts in living memory. It unfolded just 250 meters from the Mona Lisa, in what Culture Minister Rachida Dati described as a professional, four-minute-long operation. French Justice Minister Gerald Darmanin acknowledged security failures on Monday. One can wonder about the fact that, for exam

Titan expects good Q3 show in jewellery business despite high base

Ajoy Chawla said that he hopes buyer growth will be better this festive season, coupled with the wedding season that follows

Luxury jewellery brands tap into wider market with lower prices online

In August, fashion designer Sabyasachi Mukherjee tied up with ecommerce platform Tata CLiQ Luxury to launch a digital boutique on the platform

Shringar House IPO opens: Strong prospects, say analysts; should you bid?

Shringar House of Mangalsutra IPO: Anand Rathi Research has assigned a 'Subscribe for Long Term' rating to the issue, viewing it as a solid opportunity for long-term value creation

Kalyan Jewellers eyes expansion through franchise model to reduce debt

Jewellery retailer Kalyan Jewellers plans to open 170 stores through a franchise model in domestic and overseas markets this fiscal, which will help reduce its debt liabilities, a senior company official has said. As of June 30, 2025, Kalyan Jewellers' total showrooms across India and the Middle East stood at 406 (Kalyan India - 287, Kalyan Middle East - 36, Kalyan USA - 2, Candere - 81), according to a regulatory filing. "We are planning to open 170 showrooms in 2025-26, of which 90 will be Kalyan, and of these, seven will be overseas - UK, US and Middle East. We are also looking at opening 80 stores under our lifestyle jewellery brand Candere. "The domestic expansion will be across non-south markets, including tier I, II, III and IV markets through the franchise model. Going forward, the company will expand through the franchise model and will use the excess cash to reduce debt," Kalyan Jewellers Executive Director Ramesh Kalyanaraman told PTI. Going forward, the company will exp

Aukera raises $15 million to expand lab-grown diamond jewellery brand

With $15 million from Peak XV and others, Aukera plans to grow its lab-grown diamond brand as India's $350 mn market sees 15 per cent annual growth

GIA to expand Indian offerings, revise grading for lab-grown diamonds

GIA will stop using traditional clarity and colour scales for lab-grown diamonds and expand services in India to support rising consumer confidence in jewellery

Domestic jewellery demand takes a hit as gold scales Rs 90,000 per 10 grams

This is in tandem with international prices, which hit record highs and crossed $3,000 an ounce on Friday, say industry players. One ounce is approximately 28.35 gm

Torres Jewellery case: ED freezes bank deposits, assets worth Rs 21 cr

The ED on Friday said it froze bank deposits worth more than Rs 21 crore during recent raids against the promoters of Mumbai-based Torres Jewellery group, accused of duping numerous investors through an investment "fraud". The raids undertaken earlier this week covered 13 premises in Mumbai and Jaipur in the case against Platinum Hern Private Limited (that floated the brand Torres Jewellery), the federal agency said in a statement. More than 3,700 investors have so far approached the Mumbai Police with complaints of being cheated and the fraud amount is over Rs 57 crore, according to officials. The alleged fraud came to light when hundreds of investors gathered at the brand's store in the Torres Vastu Centre building in Dadar (West) earlier this month as the company stopped paying the sums promised to them. The police have arrested three accused -- Tazagul Xasatov, a Uzbek national, Valentina Ganesh Kumar, a Russian national, and Sarvesh Surve -- all senior executives of the firm,

Titan estimates 24% rise in Q3 revenue on booming jewellery demand

Strong consumer traction during the festive season translated into high single-digit percentage buyer growth in the jewellery segment, said Titan

PN Gadgil Jewellers Q2FY25 results: Net profit jumps 59% to Rs 34.91 cr

Recently listed Jewellery retailers PN Gadgil Jewellers on Tuesday reported 59.11 per cent growth in net profit to Rs 34.91 crore in the quarter ended September 2024. The company's net profit stood at Rs 21.94 crore during the corresponding period of the previous fiscal, PN Gadgil Jewellers said in a regulatory filing. Its revenue from operations increased 45.92 per cent to Rs 2,001.31 crore during the quarter under review compared to Rs 1,371.51 crore a year ago. "The second quarter of FY25 has been highly rewarding, marked by strong operating performance across all our markets despite significant volatility in gold prices. Q2 FY25 surpassed expectations, establishing a solid foundation for growth, with demand levels exceeding those of the second quarter of FY24," PN Gadgil Jewellers Chairman and Managing Director Saurabh Gadgil said. The company made a strong debut on the stock market on September 17, 2024, he said. "Several factors shaped this successful quarter. The reduction

PN Gadgil Jewellers' IPO for Rs 1,100 cr to open for subscription on Sep 10

Jewellery retail chain P N Gadgil Jewellers Ltd on Thursday fixed a price band of Rs 456-480 per share for its Rs 1,100-crore initial share sale and proceeds will be used for expansion plans and pare debt. The Initial Public Offering (IPO) will open for public subscription on September 10 and conclude on September 12 and the bidding for anchor investors will open for a day on September 9, the company announced. The Maharashtra-based company's 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 promoter SVG Business Trust. At present, SVG Business Trust holds a 99.9 per cent stake in P N Gadgil Jewellers. Brokerage houses have pegged the company's market capitalisation at over Rs 6,500 crore post-issue. Of the fresh issue proceeds, around Rs 393 crore will be utilised for the funding of expenditure towards setting up 12 new stores in Maharashtra, Rs 300 crore for payment of debt,

Goyal states restoring Diamond Imprest Licence for gems, jewellery sector

Commerce and Industry Piyush Goyal on Saturday announced restoration of Diamond Imprest Licence, which allows import duty exemption on cut and polished diamonds up to a specified limit. The gems and jewellery exporters were demanding for this licence. In the absence of this licence, the cut and polished diamonds were getting imported in Dubai and getting assorted there and re-exported, impacting India's exports and jobs in the sector. The minister announced the restoration of the licence during a session at the India International Jewellery Show (IIJS) 2024 here. It was organised by the Gem and Jewellery Export Promotion Council (GJEPC). "Shri Piyush Goyal, Minister of Commerce and Industry announced the introduction of the Diamond Imprest Licence," the GJEPC said in a statement. The licence allows eligible exporters to import cut and polished diamonds, including semi-processed, half-cut, and broken diamonds. Exporters can import diamonds up to 5 per cent of their average turnover

Titan Company Q1 FY25 results: Net profit down 5%, revenue rises 12.6%

The jewellery major's profit before interest, depreciation and tax grew 10.3 per cent to Rs 1,367 crore in the quarter ended June

What will Indians do for jewellery amid high gold prices? Agency answers

Consumers are expected to remain watchful of price movements, says ICRA

Jewels by Preeti aims to open 15 retail stores across India by year-end

Diamond manufacturer Jewels by Preeti on Monday said the company is planning to open 15 retail stores across major cities in the country by the end of this year. This strategic expansion aims to capture a significant share in the offline market by providing last-mile connectivity and cater to the growing demand for trendy and timeless diamonds in India, the company said in a statement. In the initial stage of expansion, Jewels by Preeti is planning to open seven stores in the metropolitan hubs of Mumbai, Delhi, Bengaluru, Pune, Hyderabad, Chennai, Kolkata, and Ahmedabad. "It is a pivotal step for us to reach a wider audience, offering astute customers of both the upper and middle classes an abundance of access to purchase top-notch quality diamond jewellery," Jewels by Preeti Founder Preeti Jain said. The company intends to hire 300 employees to drive its growth strategy, Jain added.

Jewellery chain Senco Gold aims 15-20% growth in revenue, profit in FY25

Leading jewellery chain Senco Gold Ltd is looking at 15-20 per cent growth in revenue and profit in the current fiscal, despite rising prices of the yellow metal and global uncertainties. The jeweller is also planning to add 15-20 stores in the current 2024-25 financial year (FY'25), of which around 50 per cent will be franchisee-owned. "We are looking at a growth of 15 per cent as a conservative estimate, which may go up to 20 per cent in normal circumstances, in both revenue and profit in FY'25," Senco Gold MD & CEO Suvankar Sen told PTI. The jewellery chain reported a 39 per cent year-on-year revenue growth in the fourth quarter of FY'24 (2023-24) to Rs 1,137 crore, while its profit jumped 23 per cent to Rs 32.17 crore. For the entire fiscal year, the revenue growth was 29 per cent with turnover reaching Rs 5,241 crore, backed by rising gold prices and increased demand from existing and new stores. The net profit expanded by 14 per cent to Rs 181 crore. In 2023-24, the retail .

Organised jewellery retailers to witness 17-19% revenue growth: CRISIL

Organised gold jewellery retailers are expected to clock 17-19 per cent year-on-year revenue growth in 2024-25, driven by higher realisations following a surge in gold prices, while volume is likely to remain steady, a report said on Wednesday. The revenue of organised gold jewellers is expected to rise 17-19 per cent this fiscal, while volume growth is likely to stagnate due to rising gold prices, Crisil Ratings said in a report. The report further stated that the working capital requirements of retailers might increase due to higher inventory levels resulting from the substantial rise in gold prices and new store additions. However, credit profiles should remain stable, it added. The organised sector accounts for slightly more than a third of the market, with the highly fragmented unorganised sector making up the rest, it noted. Domestic gold price increased 15 per cent during FY24 and reached Rs 67,000 per 10 grams at the end of March 2024, Crisil Ratings said. Gold prices inch

India's gem, jewellery industry to resume imports of rough diamonds

The Indian gem and jewellery industry on Friday said it will resume imports of rough diamonds, which were under voluntary suspension since October 15. The suspension was a collective decision taken by the Indian diamond industry, represented by the Gem Jewellery Export Promotion Council (GJEPC), Bharat Diamond Bourse, Mumbai Diamond Merchants' Association, Surat Diamond Bourse, and Surat Diamond Association, to address the challenges related to the imbalance between demand and supply. The gem and jewellery industry will lift the voluntary suspension of rough diamond imports on December 15, which is in effect from October 15 to December 15, a joint industry statement said. "We believe that the suspension has helped bring stability to the Indian diamond industry, which had been impacted by low demand. The suspension has also resulted in a positive impact on the prices of polished diamonds over the past two months," GJEPC chairman Vipul Shah said. "The industry is hopeful that the pri

30% of UAE's gems, jewellery sourced from India: Export Promotion Council

The gem and jewellery trade between India and UAE has grown significantly, particularly following the India-UAE CEPA agreement, and about 30 per cent of the total gems and jewellery imported by the emirate is sourced from India, the Gem and Jewellery Export Promotion Council (GJEPC) said. The UAE currently imports gems and jewellery amounting to USD 3.12 billion from India, the GJEPC said. The UAE imports a total of USD 10.48 billion worth of jewellery from around the world, and a significant portion, approximately 30 per cent is sourced from India," Vipul Shah, the Chairman of Gem and Jewellery Export Promotion Council (GJEPC), has said. Shah made the remarks while addressing the third edition of the International Gem and Jewellery Show (IGJS) in Dubai on Tuesday. The show from October 10-12 is supported by the Ministry of Commerce and Industry, the Government of India, and the Embassy of India in UAE. Additionally, it is supported by Dubai Gold and Jewellery Group, while Suntech