Kalyan Jewellers balances tradition and aggressive expansion

Kalyan Jewellers, one of India’s largest jewellery retailers, posted impressive growth across both domestic and international markets during Q1 FY26. Consolidated revenue surged 31 per cent year-on-year, supported by robust Akshaya Tritiya and wedding-season demand, even amid periods of muted buying due to gold price volatility and geopolitical tensions.

In India, revenues rose 31 per cent, driven by an 18 per cent same-store-sales growth (SSSG), indicating that demand strength was not just due to new store openings but also higher productivity in existing outlets.

Kalyan’s international operations — primarily in the Middle East and the US — also posted 31 percent year-on-year growth, with the Middle East alone growing 26 percent. International markets now contribute about 15 percent to consolidated revenues.

Its digital-first brand Candere was the standout performer, posting 67 percent growth, fuelled by a new brand campaign launched in May 2025. The campaign has led to a notable increase in showroom footfalls, website traffic, and conversion rates.

As of June 30, 2025, Kalyan operates 406 showrooms globally (287 in India, 36 in the Middle East, 2 in the US, and 81 Candere outlets). This mix of traditional and digital-first formats ensures the brand remains relevant to both legacy customers and new-age buyers.