Jewellery retailers could see 12% revenue growth
3 years, 3 months ago

Jewellery retailers could see 12% revenue growth

Deccan Chronicle  

New Delhi: After two years of decline, jewellers are expected to see double-digit growth in revenues this fiscal. Stable gold prices and recovery in discretionary spending will see gold jewellery sales growing 12-14 per cent this fiscal, according to Crisil. The growth this fiscal will come on a low base as revenue had contracted 3 per cent in FY20 and 8 per cent in FY21. Demand in FY20 had taken a knock after import duty was hiked by 250 bps to 12.5 per cent in the Union Budget presented in July 2019. “This fiscal, the revenues of organised jewellers is also set to benefit from lower import duty and introduction of mandatory hallmarking from June 16, 2021.

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Gold jewellery sales volumes to drop in FY25: ICRA
4 weeks ago

Gold jewellery sales volumes to drop in FY25: ICRA

Deccan Chronicle  

Chennai: Despite a 25 per cent rise in gold prices, ICRA expects jewellery sales to grow only by 14-18 per cent in FY25, indicating lower sales in volume terms. After recording a value growth of 18 per cent in FY24, gold jewellery sales are expected to grow by 14-18 per cent FY25, finds ICRA. However, so far in the current …

Kalyan Jewellers is shining, but the valuation is pricey
1 month, 4 weeks ago

Kalyan Jewellers is shining, but the valuation is pricey

Live Mint  

Shares of Kalyan Jewellers India Ltd are down 5% since its September quarter results were out on Wednesday during market hours. However, it should be noted that Kalyan’s rapid retail expansion through a franchise-owned company-operated model, which is capital-light, has helped it beat Titan Co. Ltd on revenue growth. Expansion fuels growth In Q2 and H1FY25, Kalyan’s India business revenue …

Kalyan Jewellers India Q2 Results 2024: Profit Declines Despite Revenue Surge
Trending News
2 months ago

Kalyan Jewellers India Q2 Results 2024: Profit Declines Despite Revenue Surge

Live Mint  

Kalyan Jewellers India Q2 Results 2024:Kalyan Jewellers India announced its Q2 results for 2024 on November 13, reporting a profit of ₹130.61 crore, reflecting a decline of 3.43% year-on-year. In comparison to the previous quarter, Kalyan Jewellers reported a 9.57% growth in revenue, although profit took a more substantial hit, decreasing by 26.53% quarter-on-quarter. In terms of market performance, Kalyan …

Kalyan Jewellers Q2 earnings show 3.3% dip in profit, revenue growth rises 37%
2 months ago

Kalyan Jewellers Q2 earnings show 3.3% dip in profit, revenue growth rises 37%

Live Mint  

Kalyan Jewellers Ltd., headquartered in Thrissur, Kerala, released its earnings report for the September quarter, revealing a decline in both net profit and profit margins year-on-year. The jewelry retailer reported a net profit of ₹130 crore, reflecting a 3.3 percent decrease from ₹134.8 crore in the corresponding period of the previous year. Despite this setback, the company posted a robust …

US holidays sales forecast boost gems and jewellery exports; shipments bottom out
2 months ago

US holidays sales forecast boost gems and jewellery exports; shipments bottom out

Deccan Chronicle  

CHENNAI: Indian gems and jewellery exporters are enthused by the forecast of the US retailers' federation, which predicts optimistic holiday season sales in that country. According to the Gems and Jewellery Export Promotion Council, prior to the holiday season, the exports have clocked 10 -11 per cent growth in October. We had witnessed 11 per cent decline in exports till …

Jewellery Firms Offer Lighter Pieces to Lure Consumers Back This Festive Season
2 months, 3 weeks ago

Jewellery Firms Offer Lighter Pieces to Lure Consumers Back This Festive Season

Live Mint  

Jewellery firms are offering lower making charges and lighter pieces to boost sales as gold prices continue to surge ahead of peak festivities. In response to the high gold prices, jewellers have introduced 50% of their stock keeping units or SKUs as lightweight, and they have also increased the number of lightweight ornaments in their collections. This move is aimed …

India's Gems Exports Drop 15% in June, Gold Jewellery Rises 6%
6 months ago

India's Gems Exports Drop 15% in June, Gold Jewellery Rises 6%

Deccan Chronicle  

Chennai: Gross exports of gems and jewellery were down 15 per cent in June and imports declined 16.5 per cent. At $1909 million, gross exports of gems and jewellery declined 14.78 per cent in June while gross imports at $1548.93 million were down 16.51 per cent. Gold jewellery exports provided some solace in June with a growth of 6.36 per …

India's jewelry retail sector surges to $80 billion in 2023-24 from $50 billion 6 years back
6 months, 3 weeks ago

India's jewelry retail sector surges to $80 billion in 2023-24 from $50 billion 6 years back

Hindustan Times  

India's jewelry retail sector has surged to USD 80 billion in the financial year 2024 from USD 50 billion in 2018, according to a report by Motilal Oswal Financial Services. A salesman helps a customer to select gold bangles at a jewellry showroom in Mumbai The report highlighted multiple drivers that led to the rapid growth of the industry, including …

Gold imports up 6.4% to $12.9 billion in April-July this fiscal
2 years, 4 months ago

Gold imports up 6.4% to $12.9 billion in April-July this fiscal

The Hindu  

India's gold imports, which have a bearing on the country's Current Account Deficit, rose 6.4% to $12.9 billion during April-July this fiscal due to healthy demand, according to government data. In July 2022, however, imports of the precious metal fell sharply by 43.6% to $2.4 billion, as per the latest data released by the Commerce Ministry. Increase in gold and …

Gujarat: Diwali brings bumper sale for Surat, spike seen in textile, electronics and jewellery
3 years, 2 months ago

Gujarat: Diwali brings bumper sale for Surat, spike seen in textile, electronics and jewellery

Op India  

Diwali 2021 brought broad smiles to the faces of business owners in Surat. On the other hand, the jewellery sector saw sales figures close to 500 crores and the electronics sector saw sales up to 350 crores. सूरत के कारोबारियों के लिए यह दीवाली बंपर रही।महज 2 महीने में, टेक्सटाइल- 13000 करोड़, ज्वेलरी- 500 करोड़, इलेक्ट्रॉनिक्स -350 करोड़ का व्यापार …

Diwali festive sale breaks 10-year record at Rs 1.25 trillion: CAIT
3 years, 2 months ago

Diwali festive sale breaks 10-year record at Rs 1.25 trillion: CAIT

News 18  

After a year of mellow Diwali celebrations due to the COVID-19 pandemic, revellers thronged markets for festival purchases this year, helping generate business worth Rs 1.25 trillion. According to the Confederation of All India Traders, this trade figure broke the past 10 year’s sale record on Diwali, Business Standard reported. The trader’s body that represents nearly 70 million traders, said …

Jewellers bet on ’Dhanteras’; expect to clock 70% of last year’s biz
4 years, 2 months ago

Jewellers bet on ’Dhanteras’; expect to clock 70% of last year’s biz

Live Mint  

Jewellers are betting on recovery and are optimistic that a rebound in the economy and pent up demand will help boost sales during this 'Dhanteras' and the industry is likely to do up to 70% of last year's business. Notwithstanding the ruling high gold prices and ongoing COVID-19 uncertainties, jewellers are expecting a revival in retail sales this festive season …

Gold sales down even as the yellow metal\'s price skyrockets
4 years, 4 months ago

Gold sales down even as the yellow metal\'s price skyrockets

Deccan Chronicle  

MUMBAI: Jewellers in the traditionally lucrative Indian gold market are struggling even while the metal's value skyrockets as coronavirus fears keep sales down, craftsmen at home and shops shuttered. The Mumbai market was hit hard by the March lockdown, which saw millions of migrant workers including many gold craftsmen flee India's cities as their income dried up. "Initially, I was …

Budget 2020: Jewellery sector seeks reduction in gold customs duty to 6%, polished diamonds to 2.5% to revive industry
4 years, 11 months ago

Budget 2020: Jewellery sector seeks reduction in gold customs duty to 6%, polished diamonds to 2.5% to revive industry

Firstpost  

Saying that liquidity is a major area of concern, All India Gem and Jewellery Domestic Council Chairman Anantha Padmanaban said the government should take steps to ensure that banks lend to jewellers. Mumbai: Ahead of the Budget, gems and jewellery industry has sought reduction in import duty on gold to 6 percent and on cut and polished diamonds to 2.5 …

Not just India, investors are losing fetish for gold jewellery globally
5 years, 2 months ago

Not just India, investors are losing fetish for gold jewellery globally

Live Mint  

Mumbai: Elevated gold prices have taken the sheen off gold jewellery not just in India but other parts of Asia too. Global jewellery demand fell 16% year-on-year to 460.9 tonnes in the September ended quarter, World Gold Council report showed. The average quarterly gold price during the quarter was USD 1472.47, 21% higher y-o-y deterring consumers from making fresh purchases. …

Gold prices decline by Rs 280 to Rs 32,830 per 10 gram on weak global cues, tepid demand from jewellers
5 years, 9 months ago

Gold prices decline by Rs 280 to Rs 32,830 per 10 gram on weak global cues, tepid demand from jewellers

Firstpost  

Globally, gold price was quoted at $1,299.30 an ounce, down 0.31 percent and silver stood at $15.34 an ounce, lower by 0.13 percent in New York. New Delhi: A weak global trend and easing demand from local jewellers pulled down gold prices by Rs 280 to Rs 32,830 per 10 gram at the bullion market on Monday, according to All …

Demonetisation, GST hit growth in gold jewel industry: Gem and jewellery body
6 years ago

Demonetisation, GST hit growth in gold jewel industry: Gem and jewellery body

Live Mint  

Coimbatore: The gold jewellery industry in the country has not witnessed any significant growth in the last two years, particularly after demonetisation and GST, the national apex body of gem and jewellery said Tuesday. Though the majority of the population of the older generation saw the precious metal as a long-time investment, the change in the lifestyle of the younger …

Gold prices fall after rising for two days, silver surges
6 years, 3 months ago

Gold prices fall after rising for two days, silver surges

Live Mint  

New Delhi: Gold prices today edged down by ₹ 75 to ₹ 31,650 per 10 grams, snapping a two-day rising streak, following a weak global trend and slowing demand from local jewellers, PTI reported. In Delhi, gold rates of 99.9% and 99.5% purity fell by ₹ 75 each to ₹ 31,650 and ₹ 31,500 per 10 grams, respectively. Sovereign gold, …

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