Despite a steep surge in gold prices in the second half of the quarter, jewellery giant Kalyan Jewellers’ consolidated revenue increased by roughly 34 per cent in Q4 FY2024, the company stated in a quarterly statement on BSE.
The jewellery retailer’s consolidated revenue increased by 31 per cent in FY2024 compared to the previous year.
Commenting particularly on the Indian market, the firm stated that India’s business revenue increased by 38 perc ent during the quarter, driven by strong operating momentum on the ground and good same-store sales growth.
During the March quarter, the company’s digital-first brand Candere saw a 12 per cent increase in sales.
“We continue to witness encouraging trends in its already opened physical showrooms. For the full year FY2024, Candere recorded revenue de-growth of approximately 17 per cent as compared to the prior year,” the filing read.
across 2024, Kalyan opened 71 new showrooms, bringing the total number of showrooms across India and the Middle East to 253. For FY2025, the business intends to open at least 130 showrooms in India (80 in Kalyan and 50 in Candere), as well as 6 in the Middle East and the United States.
