Kalyan Jewellers Quarterly Update: Q3 FY2025
The recently concluded quarter has been a very fulfilling one recording consolidated revenue growth of approximately 39% when compared to the same period in the previous financial year. Our India operations witnessed revenue growth of approximately 41% during Q3 FY2025 as compared to Q3 FY2024, led by very strong festive and wedding demand across both gold and studded categories. The quarter recorded healthy same-store-sales-growth of approximately 24%
Launch of 24 Kalyan Showrooms in India
We launched 24 Kalyan showrooms in India during the recently concluded quarter, with a strong pipeline of showrooms set to open over the course of the current quarter.
Revenue Growth in the Middle East
In the Middle East, we witnessed revenue growth of approximately 22% when compared to the same period in the previous financial year. Middle East contributed ~11% to our consolidated revenue for the recently concluded quarter.
First Showroom Launched in the USA
During the recently concluded quarter, we launched our first showroom (Company Owned Company Operated) in the United States of America.
Significant Growth for Candere
Our digital-first jewellery platform, Candere, recorded a revenue growth of approximately 89% during the recently concluded quarter as compared to the same period during the last year. We launched 23 Candere showrooms during Q3 FY 2025.
Expansion Plans for Current Quarter
During the current quarter, we plan to launch 30 Kalyan showrooms and 15 Candere showrooms in India, keeping us ahead of our announced showroom roll-out plan of 80 Kalyan showrooms and 50 Candere showrooms in India for FY 2025.
Ambitious Targets for FY 2026
For FY 2026, we have drawn up plans to launch 170 showrooms across Kalyan and Candere formats:
75 Kalyan showrooms (all FOCO) in non-south India
15 Kalyan showrooms (all FOCO) across south India and international markets
80 Candere showrooms in India
We have already started signing LOIs for the Franchisee Owned Company Operated (FOCO) showrooms planned for the next financial year in India and international markets.
Total Showroom Count as of December 31, 2024
During the recently concluded quarter, we launched 46 net showrooms across Kalyan and Candere formats, taking the total number of showrooms as on 31st December 2024 to 349:
Kalyan India – 253
Kalyan Middle East – 36
Kalyan USA – 1
Candere – 59