Page 2 - Jewellery

Dubai's top Indian jewellery importer cuts volumes 30% as gold prices soar

Bafleh Jewellery, one of the Middle East's largest importers of Indian jewellery, is shifting to lightweight designs and lower-karat gold as soaring bullion prices squeeze demand across key markets. The company's Managing Director Ramesh Vora said the Dubai-based company has imported 600-700 kilograms of jewellery from India in the first eight months of the current financial year, compared to 1.2 tonnes for all of last year. While import values have increased, volumes have dropped 20-30 per cent as gold prices surged from USD 2,200-2,500 per ounce to USD 3,600 within three months. "People cannot afford it anymore. We're thinking gold might even reach USD 4,000," Vora told PTI at a recent Saudi Arabia Jewellery Exhibition (SAJEX). The company plans to introduce 14-karat jewellery next month, working with suppliers in Kolkata and Delhi to maintain colour quality while reducing gold content. The strategy shift reflects broader challenges facing jewellery importers as volatile gold pr

UPI's new high value transaction limits kick in: Here's what changes

Starting September 16, UPI is no longer just for small daily payments. With raised limits for insurance, investments, and even jewellery purchases.

Govt may mandate silver jewellery hallmarking after six months: BIS

The government will consider making hallmarking of silver jewellery and articles mandatory after evaluating the effectiveness of the process, which has been introduced on a voluntary basis. On September 4, the government announced introducing voluntary hallmarking for silver jewellery and articles, effective September 1, implementing a digital identification system to ensure metal purity for consumers. "We need some time to evaluate it. Six months should be enough. We will look at this for six months, and after that, we will consider whether to make it mandatory or not," Pramod Kumar Tiwari, Director General of Bureau of Indian Standards (BIS), told PTI on Friday. The official made the remarks in reply to a question about whether the government may consider making hallmarking of silver jewellery mandatory. BIS is the National Standard Body of India established under the BIS Act 2016 for the harmonious development of the activities of standardisation, marking and quality certificati

UP scouts new markets as US tariffs hit textiles, jewellery and leather

Uttar Pradesh looks to Latin America, Europe, Africa and South-East Asia for exports as US tariffs squeeze textiles, jewellery and leather, with a new policy aiming Rs 5 trillion exports by 2030

Thieves grab $2 mn in jewellery in Seattle heist that took under 2 minutes

Smash-and-grab thieves in Seattle made off with an estimated USD 2 million in diamonds, luxury watches, gold and other items in a daring midday jewelry store robbery that took just about 90 seconds, police said Friday. Video from the West Seattle store's surveillance cameras shows four masked suspects shattering the locked glass front door with hammers and then ransacking six display cases Thursday. One display held around USD 750,000 worth in Rolex watches, police said in a statement, and another had an emerald necklace valued at USD 125,000. A masked suspect threatened workers with bear spray and a Taser, police said, but no one was injured. We're pretty shook up as a staff, Josh Menashe, vice president of the family-owned store, said by phone Friday. We're gonna be closed for a while. Menashe said workers finished cleaning up the broken glass and were working on a full inventory of the losses. Police said they responded to the robbery but the suspects had already fled in a get

Gem, jewellery exports rise 15.98% to $2.17 billion in July: GJEPC

Gem and jewellery exports witnessed 15.98 per cent year-on-year growth to USD 2,178.24 million (Rs 18,756.28 crore) in July amid global challenges, the Gem and Jewellery Export Promotion Council (GJEPC) said on Wednesday. Overall gem and jewellery exports stood at USD 1,878.09 million (Rs 15,700 crore) in the corresponding month of 2024, according to data shared by GJEPC. "The July exports are good and an encouraging sign for our industry. It mainly got a boost from successful substantial order bookings during the India International Jewellery Show (IIJS) Premiere and a strong bounce back of the Hong Kong market. This performance is heartening, especially as it comes amid global challenges, such as the ongoing impact of the US tariffs," GJEPC Chairman Kirit Bhansali said in a statement. In the recently concluded IIJS Premiere 2025, an estimated Rs 70,000-90,000 crore order bookings have been generated, which boosted the confidence of the industry ahead of the festive season, said th

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

PC Jeweller Q1 results: Profit rises 4% to ₹162 cr; revenue up at ₹808 cr

P C Jeweller Ltd on Friday reported a 4 per cent increase in its consolidated net profit to Rs 161.93 crore for the quarter ended June 2025. Its net profit stood at Rs 156.06 crore in the year-ago period. Total income surged to Rs 807.88 crore during the April-June period of 2025-26 fiscal from Rs 439.78 crore in the corresponding period of the preceding year, according to a regulatory filing. Last month, the company's board approved a plan to raise Rs 500 crore equity from promoters and Capital Ventures Pvt Ltd to prepay its loan, as part of its plan to become debt-free by the end of this fiscal. Delhi-based PC Jeweller has a total of 52 showrooms, of which 49 are company-owned. The company had posted a net profit of Rs 577.70 crore and a total income of Rs 2,371.87 crore during the entire 2024-25 fiscal.

Titan to acquire 67% stake in Damas jewellery via UAE subsidiary

Tata Group's Titan Company said that the acquisition will be funded through a mix of internal accruals, existing cash balances, and debt

PC Jeweller clocks 80% revenue growth in Q1, to be debt free in FY26

PC Jeweller Ltd has reported around 80 per cent growth in revenue during the April-June quarter of this financial year on strong demand despite volatility in gold prices and said it will become debt free this fiscal. Delhi-based PC Jeweller has a total of 52 showrooms, of which 49 are company-owned. In a regulatory filing on Thursday, PC Jeweller informed that the company closed the April-June quarter on a very strong note clocking a robust performance. "Despite the volatility in gold prices, the company was able to achieve a standalone revenue growth of approximately 80 per cent, as compared to the corresponding quarter of the previous financial year," PC Jeweller said. The company saw high demand for its products, as consumers purchased jewellery for weddings and festivals. "Further, the company had already reduced its outstanding debts towards its bankers by more than 50 per cent during 2024-25," PC Jeweller said. The company expressed confidence of becoming debt free in the .

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

India may become biggest natural diamond market: De Beers Group CEO

What we see at the moment is that as Indian consumers become more independent, have more freedom, they're choosing to buy diamond jewellery as symbol of that independence and symbol of their success

Jewellery giant Titan to shine on margin gains, sales growth trajectory

The rise in jewellery sales was on the back of higher ticket sizes on account of a rise in prices of gold

Titan's managing director Venkataraman to retire by year end: CEO

Venkataraman joined the company in 1990 and rose to the top post in 2019, the same year Chawala took the helm at the jewellery division

Light-weight jewellery to drive gold demand this Akshaya Tritiya: Experts

With gold prices hovering near Rs 1 lakh per 10 grams, jewellers expect light-weight jewellery and other items to drive consumer demand this Akshaya Tritiya, which is considered an auspicious day to buy precious metals. Akshaya Tritiya, which is celebrated on the third day of bright half of Hindu calender month Vaisakha, falls on April 30 this year. "As we approach the auspicious occasion of Akshaya Tritiya, the gold market is buzzing with anticipation. Akshaya Tritiya holds immense cultural significance in India, traditionally marking a surge in gold purchases. This year, despite the elevated prices, we anticipate a healthy demand driven by light-weight items," All India Gem and Jewellery Domestic Council (GJC) chairman Rajesh Rokde told PTI. Gold on Friday traded weak at Rs 95,075 per 10 grams on MCX, as Comex gold continued to face resistance near the USD 3,330-an-ounce-mark. While some consumers might show initial hesitation, the enduring appeal of gold as a safe-haven asset a

PC Jeweller cuts 56% debt in FY25, to become debt-free by Mar FY26: MD

PC Jeweller Ltd has reduced bank loans by more than half to about Rs 1,800 crore this fiscal year and aims to become debt-free by March next year on better sales and fundraise, its MD Balram Garg said. PC Jeweller, which sells gold and silver jewellery, has 55 showrooms across 15 states. In September, Delhi-based PC Jeweller executed a settlement agreement with a consortium of 14 banks led by SBI to clear its outstanding loan, which stood at nearly Rs 4,100 crore as on March 31, 3024. "Our bank loans is expected to come down to Rs 1,775 crore at the end of the current fiscal. We are targeting to further reduce our bank loans and become debt free by March 2026," Garg told PTI in an interview. He said the company will get more than Rs 1,500 crore in the next fiscal from investors as proceeds against preferential issue of warrants and the same will be utilised to clear bank loans. In October last year, the preferential issue of fully convertible warrants amounting to Rs 2,702.11 crore

BS Manthan: Can India create an LVMH? Julien Tornare says innovation is key

He said that like Swiss watches, known for their craftsmanship, India has a rich tradition of exquisite craftsmanship, whether in textiles or jewellery

Romancing the stone: Bespoke, timeless jewellery trends for brides & grooms

Bespoke jewellery, antique or with a modern twist, that is both timeless and versatile is the flavour of the season for brides and grooms, writes Asmita Aggarwal

PC Jeweller Q3 results: Net profit at Rs 148 cr on strong festive demand

The company posted a consolidated net profit of Rs 148 crore in the quarter ending Dec. 31, compared with a loss of Rs 198 crore a year earlier and a profit of Rs 179 crore in previous quarter