Kalyan Jewellers has reported a highly successful third quarter for FY2025, posting a consolidated revenue increase of approximately 39% compared to the same period last year, driven by a surge in demand across both domestic and international markets.
The company’s India operations were particularly robust, with a revenue growth of 41% year-over-year, largely fueled by strong demand during the festive and wedding seasons across its gold and studded jewelry categories. Notably, same-store sales growth in India was a healthy 24% during Q3 FY2025, reflecting the continued strength of the brand in the local market.
In a significant expansion push, Kalyan Jewellers opened 24 new showrooms in India during the quarter, and the company has a strong pipeline of new store openings scheduled for the current quarter. The company’s growth in India remains a key component of its strategy, with plans to launch 30 Kalyan showrooms in the current quarter alone.
Overseas, Kalyan Jewellers experienced revenue growth of 22% in the Middle East compared to Q3 FY2024, contributing approximately 11% to the company’s consolidated revenue. Additionally, the company made its debut in the United States with the opening of its first Company Owned, Company Operated (COCO) showroom.
In the digital space, Kalyan’s online jewelry platform, Candere, demonstrated impressive growth, with an 89% year-over-year increase in revenue during the quarter. The digital-first platform also expanded its physical presence, launching 23 new Candere showrooms in Q3 FY2025.
Looking ahead, Kalyan Jewellers remains on track to meet its ambitious showroom rollout plans. The company plans to launch 30 Kalyan and 15 Candere showrooms in India during the current quarter, keeping it ahead of its previously announced target of opening 80 Kalyan and 50 Candere showrooms across India in FY2025.
For FY2026, Kalyan Jewellers has outlined an aggressive expansion strategy, with plans to launch a total of 170 new showrooms across both Kalyan and Candere formats. This includes 75 Kalyan showrooms in non-South India, 15 Kalyan showrooms in South India and international markets, and 80 Candere showrooms in India. The company has already begun signing Letters of Intent for its Franchisee Owned, Company Operated (FOCO) showrooms, which will play a key role in the planned growth.