Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

India's Kalyan Jewellers revenue grows 34% in Q1 of FY 2024

17 july 2023

Kalyan Jewellers, one of India's top jewellery companies, witnessed continued robust momentum in both footfalls and revenue across all its markets in India and the Middle East over the past several quarters. 

In the recently concluded quarter, the company concluded the quarter with revenue of 34 per cent, as compared to 31 per cent during the same period in the previous financial year.

Strong operating momentum has been consistent and sustained through the entire quarter, including during Akshaya Tritiya, underpinning the resilience of its category within the overall consumption basket and demonstrating strong execution in the market by its operating team on the ground.

The non-south markets recorded higher overall revenue growth largely due to the greater number of showrooms launched in that region over the last twelve months.

Gross margin at the showroom level has improved as compared to the same period in the previous financial year and has remained broadly in line with the prior quarter. As expected, given the higher share of revenue from franchised showrooms, the blended gross margin has declined sequentially as well as when compared to the same period in the previous financial year.

Kalyan Jewellers also added 12 new ‘Kalyan’ showrooms across non-south markets during the recently concluded quarter and expect to launch 20 new showrooms across non-south markets before Diwali, as part of its previously communicated plan of launching 52 new showrooms during the current year.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished