Channel dynamics evolved meaningfully as well, presenting a significant opportunity for the sector, writes Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers
The year 2025 has been transformative for the Indian jewellery industry. Consumer behaviour shifted noticeably, appetite for design innovation widened, and hybrid retail journeys blending digital discovery with offline trust became increasingly common. At the same time, rising gold prices and broader cost pressures influenced both sentiment and buying patterns. The sector responded with resilience, and we adapted to serve customers who are more informed, expressive, and regionally rooted than ever before.
A key insight from this year is that customers respond consistently to jewellery that balances style, emotional resonance, and accessibility—a principle that continues to guide our collections. Rising gold prices, combined with a growing younger audience investing in gold as part of their personal style, accelerated demand for lighter, design-focused pieces. Recognising this trend early, we strengthened our focus on design-led 18K jewellery, creating collections that marry modern aesthetics, everyday comfort, and meaningful narratives. These pieces offer both beauty and value, while our product engineering ensures gold usage is optimised without compromising craftsmanship.
Studded jewellery also gained strong traction across the sector, reflecting the shift toward contemporary design. We observed this category record substantial growth over the previous year, driven by customers who value fine artistry and pieces suitable for both daily wear and special occasions. Over the year, we focused on enhancing the visibility of niche and premium sub-brands while curating offerings that resonate with evolving tastes and regional design sensibilities.
Regionalisation emerged as another defining trend in 2025. India is a mosaic of cultural identities, each with its own design vocabulary and aesthetic cues. We have always believed that truly understanding our customers starts with recognising this diversity. Jewellery choices differ widely across geographies, and these distinctions shape how collections are curated across our network. By listening closely to local communities, we ensure our offerings feel culturally grounded, emotionally resonant, and relevant in every market. Regional brand ambassadors also play a crucial role in this connection, helping us communicate authentically and ensuring our messaging resonates across diverse audiences.
Evolving Channel Dynamics
Channel dynamics evolved meaningfully as well, presenting a significant opportunity for the sector. Today’s customers expect continuity, convenience, and trust across discovery, consultation, and purchase. Assisted digital tools, such as video consultations, bridge online and offline experiences, replicating the reassurance of in-store interactions. These tools have strengthened retention initiatives and created a unified view of the customer, enhancing engagement and service quality across touchpoints.
Our expansion continued steadily in 2025. We grew our network to 315 showrooms in India from 253 in Dec of 2024, enabling disciplined growth while maintaining operational standards. Candere, our digital-first brand, also expanded to 96 showrooms, from 59 at the end of the last CY. Internationally, we reinforced our presence in the Middle East with 38 showrooms, expanded to the United States with two locations, and celebrated a milestone with the launch of our first store in the United Kingdom. Looking ahead to the first quarter of CYFY26, which coincides with the final quarter of this financial year, our focus will be on opening the remaining showrooms, ensuring we stay on track to deliver the 84 new launches committed at the start of this FY.
Reflecting on 2025, it is evident that the Indian jewellery industry is entering a phase defined by design maturity, regional sensitivity, and disciplined retail growth. Customers increasingly seek identity-driven designs, transparent pricing, and seamless experiences across channels. Rising gold prices and operating costs have encouraged the sector to become more agile, innovative, and customer-centric, while the adoption of hybrid retail models presents a clear growth opportunity.
As we move into CY 2026, our focus will remain on strengthening regional insight, expanding the design-led 18K portfolio, enhancing the customer experience across physical and digital touchpoints and growing thoughtfully in markets with long-term potential. The momentum built in 2025 has laid a strong foundation for sustainable, responsible and culturally relevant growth for the industry.
Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the publication.
