Kalyan Jewellers, a prominent name in the jewellery industry, has delivered exceptional Q3 FY2025 results. With consolidated revenue growth of approximately 39% year-on-year, the company continues to solidify its position as a market leader.
Kalyan’s India operations were the key growth driver, recording a stellar revenue increase of approximately 41% compared to Q3 FY2024. This remarkable performance was fueled by robust festive and wedding season demand across gold and studded jewellery categories. The company also achieved an impressive same-store sales growth of approximately 24%, reflecting the success of its customer-centric initiatives.
During the quarter, Kalyan Jewellers expanded its presence significantly by launching 24 new showrooms across India. This expansion aligns with the company’s aggressive growth strategy, with plans to open 30 additional Kalyan showrooms in the ongoing quarter.
The Middle East market also delivered strong results, with revenue growth of approximately 22% compared to Q3 FY2024. The region contributed around 11% to the company’s consolidated revenue for the quarter.
Marking a significant milestone, Kalyan Jewellers launched its first Company Owned Company Operated (COCO) showroom in the United States during Q3 FY2025.
Kalyan’s digital-first jewellery platform, Candere, recorded a phenomenal revenue growth of approximately 89% during the quarter compared to the same period last year. The platform’s strong performance was complemented by the launch of 23 new Candere showrooms, bringing the brand closer to its customers. With plans to open 15 additional Candere showrooms in the current quarter, the company is well on track to exceed its showroom roll-out targets for FY2025.
Looking ahead, Kalyan Jewellers has ambitious plans for FY2026. The company aims to launch 170 new showrooms across Kalyan and Candere formats, including:
- 75 Kalyan showrooms (FOCO) in non-south India.
- 15 Kalyan showrooms (FOCO) across south India and international markets.
- 80 Candere showrooms in India.
The company has already started signing Letters of Intent (LOIs) for Franchisee Owned Company Operated (FOCO) showrooms planned for the next financial year, signaling a proactive approach to growth.
As of December 31, 2024, Kalyan Jewellers’ showroom count stands at an impressive 349, comprising:
- 253 Kalyan showrooms in India.
- 36 Kalyan showrooms in the Middle East.
- 1 Kalyan showroom in the United States.
- 59 Candere showrooms in India.
