The recently concluded quarter has been a very satisfying one for Kalyan Jewellers with robust momentum in both footfalls and revenue across all markets in India and the Middle East. The recently concluded quarter recorded consolidated revenue growth of over 33% when compared to the same period in the previous financial year.
Kalyan Jewellers saw revenue growth of more than 40% for its India operations during Q3 FY2024 as compared to Q3 FY2023, led by robust operating momentum on the ground with healthy same-store-sales growth, similar to levels seen in Q2 FY2024 across all the key markets in the country.
The brand added 22 net new ‘Kalyan’ showrooms in India during the recently concluded quarter. While only 16 of these were under the FOCO (Franchisee Owned Franchisee Operated) model, Kalyan expected the company-owned showrooms launched during the previous quarter to be converted to FOCO during the ongoing quarter.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished
