Now Reading: Kalyan expands brands for weddings, daily wear and regional jewellery
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Kalyan expands brands for weddings, daily wear and regional jewellery
Kalyan expands brands for weddings, daily wear and regional jewellery
Kalyan Jewellers is sharpening its multi-brand strategy as Indian customers buy jewellery more often and choose pieces by occasion and budget. Its main brand will focus on wedding and aspirational jewellery, Candere…
The Story in Brief
Kalyan Jewellers is sharpening its multi-brand strategy as Indian customers buy jewellery more often and choose pieces by occasion and budget. Its main brand will focus on wedding and aspirational jewellery, Candere on lightweight, gifting and everyday collections, and the new Akshaya Thanga Maaligai brand on traditional Tamil Nadu designs.
Kalyan’s consolidated revenue rose 46% year on year to Rs 10,589 crore in the June quarter, while net profit increased 32% to Rs 349 crore. Candere, which had 129 showrooms on 30 June, reported a profit of Rs 2.1 crore against a loss of Rs 10 crore in the year-earlier quarter. The first Akshaya Thanga Maaligai showroom is due to open in Chennai on 21 August, followed by four more in Tamil Nadu.
The Indian Opinion
The easy story is that high gold prices are hurting demand, or that every younger buyer wants lab-grown diamonds. Kalyan’s account points to a more mixed market, with shoppers buying smaller or occasion-specific pieces while managing fixed budgets. Its refusal to enter lab-grown diamonds is a commercial bet, not proof that the category lacks buyers. The useful test will be whether Candere remains profitable as its store count grows and whether the new Tamil Nadu chain earns repeat customers beyond its first five showrooms.
Source: livemint.com
This story was synthesised by AI from the source linked above.
