Page 3 - Jewellery Sale

Jewellers see just 10% of pre-Covid sales as lockdown hits sentiment

For the second straight year, the gems and jewellery industry is set for almost a washout of business on Akshaya Tritiya as only about 10 per cent of pre-COVID sales of 2019 are expected on Friday amid the raging pandemic sapping footfalls and purchasing power of people. In a normal year, the industry does business of 25-30 tonnes on Akshaya Tritiya, but this year, it expects a maximum of 3-4 tonnes of sales as offline sales have been badly impacted. Some organised players like Kalyan Jewellers did online bookings of gold which will be physically delivered later. "The second wave of the pandemic is turning out to be much worse than last year with huge loss of life across the country. This has created an overall negative consumer sentiment," All-India Gems & Jewellery Domestic Council (GJC) chairman Ashish Pethe told PTI. He said lockdowns are imposed in almost 90 per cent of the states, where retail jewellery stores are closed and no delivery is allowed. This year, Pethe said, the

Near-term growth woes for Titan after strong jewellery-powered Q4

Product mix and salary reinstatement could put pressure on margins

Kalyan Jewellers plans 14 new showrooms in post IPO expansion

While the brand has plans to scale up existing operations in the tier-1 cities, it will also focus on the tier-2 and tier-3 markets, with mid-size showrooms

Malabar Gold & Diamonds to invest Rs 1,600 crore in FY22 on 56 stores

This is in line with the company's expansion plan to triple its retail network from over 250 showrooms this year to 750 outlets by 2023

Retail jewellers to sustain recovery with 30-35% growth in FY22: Report

The outlook is stable, according to a report

Our jewellery division recovered from pandemic, entered growth phase: Titan

Tata group firm Titan said its jewellery division has recovered from pandemic, entering the growth phase, and other divisions have moved closer to full recovery led by festive season

Titan, TBZ: Trading strategies for jewellery-related stocks on Dhanteras

Titan Company is hovering around the resistance of Rs 1,300 levels.

Customers don't come to buy but to sell old stuff as jewellery stores open

Jewellery offtake down to 15-20% of May sales in the previous years

It will take years for jewellery sales to reach pre-Covid levels: Experts

Zero making charges may not work any more; store sales to be impacted as consumers buy online

Titan's jewellery division to roll out digital initiative for clients: CEO

Ajoy Chawla, CEO of the jewellery division at Titan, tells Samreen Ahmad that the company is gearing up to train nearly 25,000 people in Titan's ecosystem in two weeks to restart post-lockdown work.

All that glitters is on video: Tanishq finds a way for gold customers

Titan which sells Tanishq brand gold and diamond jewellery, operates over 350 retail stores across the counter. Apart from that, the company also sells huge quantity of its products online.

Gold is old

In most schemes, where the monthly investment is a fixed amount, investors run the risk of the price of gold rising during the tenure of the recurring deposit

After duping hundreds of depositors, Goodwin's owners held in Thane

Hundreds of customers of the Goodwin jewellery chain were left high and dry after it shut its outlets in several cities in Maharashtra

Jewellery association to launch e-commerce platform for gold trading

It will help networking of jewellers with each other and also reduce the marketing cost of jewellery which otherwise is done through costly exhibitions

Code of conduct soon for jewellers as sector aims to restore consumer trust

World Gold Council to initiate talks with industry bodies; move is aimed at controlling jewellers' default, building lender's confidence as well

Dull gold: Jewellery industry losing sheen for lack of policy, innovations

The lack of a coherent policy and the unwillingness of Indian jewellers to reform are tarnishing the industry

Higher prices may dampen Diwali for jewellers, sales may drop by 30%

The jewellery industry is looking at a dark Dhanteras and Diwali as it expects sales to decline at least 30 percent over last year in spite of the ongoing price corrections. The industry's only hope is in falling prices, which had scaled a record of Rs 4,000 a gram last month, to get better footfalls. Currently, the metal is trading at around Rs 3,800 to a gram. In 2018, the industry managed to close with flat sales over 2017 Diwali season. "Gold prices have soared to Rs 40,000 per 10 gram last month, just in the beginning of the festival season and still remains high. This has further dampened the already weak consumer sentiment. "But if prices continue to correct during this week there may be some improvement in retail demand. However, the overall business will still be 30 percent lower than last year," All-India Gem & Jewellery Domestic Council chairman Anantha Padmanaban told PTI on Tuesday. World Gold Council managing director for India Somasundaram PR said ..

Titan plunges 10% as analysts de-rate stock following weak Q2 results

Titan cut growth guidance for H2FY20 to 11-13%, from 20%, on account of weak outlook for the jewellery business

Buy gold via regulated products, ensure it gets allotted in your name

So long as a jeweller uses customers' money to meet his working capital needs, there is usually no problem

Economic slowdown hit jewellery and apparel sales this Diwali: Report

The average value of card transactions in the two affected segments dipped in the days leading to Diwali, according to the data released by transaction processing company, Worldline