Page 2 - Jewellery Sale

Dhanteras gems and jewellery sales may cross Rs 30K cr amid rising prices

Dhanteras and Diwali demand for gems and jewellery this year is anticipated to remain strong despite rising prices, with Diwali sales potentially crossing Rs 30,000 crore in the domestic market, according to industry experts. Price hikes in precious metals are prompting consumers to view gold as a reliable asset, while silver is gaining popularity among people due to its relatively lower price and high industrial demand. Some experts estimate sales growth in value terms of 10-15 per cent year-on-year this Diwali across the country, though there may be a dent in volume. Silver has emerged as the top performer with returns exceeding 40 per cent, followed by gold at 23 per cent, significantly surpassing stock market benchmark returns. Eastern Regional Chairman of the Gems & Jewellery Export Promotion Council (GJEPC) said, Gold continues to shine due to global uncertainties and geopolitical conditions, while silver is drawing substantial interest as an affordable option. The Council .

Kalyan Jewellers Q2 revenue up by 39% on robust same-store-sales growth

Jewellery retailer Kalyan Jewellers on Monday said its revenue from India operations witnessed an on-year growth of around 39 per cent during the second quarter of 2024-25, led by robust footfalls across markets with a healthy same-store-sales-growth. "Our India operations witnessed revenue growth of approximately 39 per cent during the second quarter of FY25, compared to the same period of FY24, led by robust operating momentum on the ground across all markets with healthy same-store-sales-growth of approximately 23 per cent," Kalyan Jewellers said in a regulatory BSE. Custom duty reduction on gold imports, announced during the 2024-25 Union Budget, resulted in significantly higher levels of footfalls from the last week of July till the end of August, mostly negating the impact of 14 days of Shradh (when sales are typically more muted) and extreme volatility in gold prices, the company said. In the Middle East, the jewellery retailer witnessed revenue growth of 24 per cent compared

Indian dealers offer steeper discounts on gold as high prices dent demand

In India, the world's second-largest gold consumer, domestic prices were ruling around 71,900 rupees per 10 gram on Friday

Jewellery brand Titan reports 9% revenue growth in Q1, adds 61 stores

Leading jewellery and watchmaker Titan on Friday said it clocked a standalone revenue growth of 9 per cent in the first quarter ended June 30, 2024. The Tata Group-managed firm added 61 stores during April-June FY25, taking its combined retail network presence to 3,096 stores. Its jewellery division, which contributes over three-fourths of its revenue, reported 9 per cent growth in the domestic market and added 34 stores. "The auspicious week of Akshaya Tritiya witnessed double-digit growths (in Tanishq secondary sales) compared to the same period last year. However, high gold prices and their continued firmness had an impact on consumer demand," it said. Moreover, the quarter has lower wedding days and overall sentiments were "relatively muted" in comparison to Q1/FY24. "Domestic growth came largely through an increase in average selling prices whereas buyer growth was in low single digit. Gold (plain) grew in high single digit while studded growth was moderately lower in ...

Kalyan Jewellers revenue growth surges 27% in Q1 FY25, plans expansion

Kalyan Jewellers on Friday reported a 27 per cent year-on-year increase in consolidated revenue for the first quarter of the financial year 2024-25, driven by strong performance in both Indian and Middle Eastern markets. The company had reported a consolidated net revenue of Rs 4,376 crore in the first quarter (April-June) of the 2023-24 fiscal year. India operations saw a 29 per cent revenue growth during the first quarter of this fiscal, compared to the corresponding quarter of the previous fiscal year, with a 12 per cent same-store-sales growth, the company said in a regulatory filing. The revenue from Middle East operations was up 16 per cent, contributing 15 per cent to the consolidated revenue. The company said 13 new franchisee-owned-company-operated (FOCO) showrooms were opened during the April-June period this year in India, while the digital platform Candere recorded a 13 per cent revenue growth. The company said it plans to convert its Candere business into a wholly-own

Motilal Oswal initiates coverage on Kalyan Jewellers, Senco; details here

Overall, the jewelley sector has seen an approximately 8 per cent revenue CAGR during FY19-24, reaching Rs 6,40,000 crore in market value, with the organised segment growing at 18-19 per cent

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.

Titan Q4 results: Net profit falls short of estimates, rises 5.6%

The jewellery major's profit before interest, depreciation and tax grew 12.2 per cent to Rs 1350 crore in the quarter ended March

Section 54F: Avoid capital gains tax on jewellery sale with house buy

In India, no tax has to be paid on inheriting gold, but its sale triggers capital gains tax

Jewellery retail trade expected to grow at 10-12% in FY24, says ICRA

The domestic jewellery retail industry, in value terms, is expected to grow at 10-12 per cent during the current financial year on the back of elevated gold prices, credit rating firm ICRA said in a report. In the last financial year, the industry had grown by more than 15 per cent. ICRA said that demand volumes remained stable in the current festive season despite higher prices. The research firm said organised jewellery retailers are expected to outperform the industry over the medium term, driven by planned retail expansion and tailwinds from the accelerated formalisation of the trade. After remaining volatile between December 2022 to April 2023, gold prices were relatively stable in the range of Rs 5,600 to Rs 5,700 per gram in the first half of the current fiscal. This was almost 14 per cent higher as compared to the price levels in the preceding first half. The rating firm said the elevated price levels supported the revenue expansion of most jewellery retailers in the face

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

Nearly $196-million jewellery auctions in Geneva set world record

The first one totaled 138.3 million Swiss francs ($154 million), already setting a world record for a single-owner jewelry sale

India's festival gold sales to shine less brightly this year, says WGC

Demand for gold jewelry, coins and bars typically peaks in the world's second-biggest consumer over October to December, driven by festivals including Diwali

Kalyan, PC Jeweller hit 52-week highs on hopes of strong demand

After muted months of July and August, mainly due to delayed weddings in South India, analysts expect demand to bounce back in the December quarter given Navratri, and festive season across India

Jewellers sell Rs 100 gold online as Indians take to internet buys in Covid

Jewellers launch offers for festive season, when gold demand peaks in the country.

Reforms in jewellery sector to help achieve $ 43.75 bn export target: Patel

Introduction of reforms for the gems and jewellery industry would help push its growth rate and achieve $43.75 billion exports target for this fiscal year, Union Minister Anupriya Patel said.

We are expecting a U-shaped recovery: Titan Company's Ajoy Chawla

We are opening up only those stores - 270 so far - where 100 per cent of our staff has been vaccinated

Vaccination increase to help push growth of gems, jewellery sector: GJEPC

Curbs imposed by states to rein in the second wave of the pandemic has impacted the domestic business of the gems and jewellery sector in the current fiscal year, but it is expected to revive soon

Hallmarking of gold of 20, 23, 24 carats to be mandatory in next 2 phases

No bar on households selling non-hallmarked gold anywhere

Kalyan Jewellers profit after tax jumps 54% to Rs 73.87 cr in Mar quarter

Kalyan Jewellers on Thursday reported a 54.05 per cent jump in its consolidated profit after tax (PAT) to Rs 73.87 crore for the quarter ended March 31.