Kalyan Jewellers Reports 31% YoY Revenue Growth in Q1 FY26; Opens 19 New Stores

7 Jul 2025 , 11:53 AM

Kalyan Jewellers India Ltd reported a 31% increase in consolidated revenue for the first quarter of FY26, signaling strong demand despite a challenging macro environment. The company credited its performance to festive buying, particularly during Akshaya Tritiya, and steady wedding season sales.

While gold price volatility and geopolitical developments impacted broader consumer sentiment, Kalyan said the quarter ended on a high note. The company described the April–June period as “fulfilling,” pointing to resilience in customer demand.

In its core India business, Kalyan saw revenue rise 31% year-on-year, supported by same-store sales growth of approximately 18%. Wedding purchases and festival-led buying were key drivers.

The jeweller’s international segment also reported a 31% uptick in revenue over the same quarter last year. In the Middle East, revenue was up 26%, with steady footfalls at existing stores contributing significantly to the performance. International markets made up 15% of the total revenue during the quarter.

Digital-first brand Candere posted standout numbers, recording a 67% surge in revenue compared to the previous year’s first quarter. The growth was attributed to rising online orders and new showroom additions under the brand.

During Q1 FY26, Kalyan launched 19 new outlets, which included:

• 10 Kalyan Jewellers stores in India

• 1 showroom in the United States

• 8 Candere showrooms across India

With these additions, the company’s total store count reached 406 as of June 30, 2025, spanning both Indian and international locations.

Looking ahead, Kalyan is gearing up for a major retail expansion. For FY26, the company plans to roll out 170 new stores across both Kalyan and Candere formats. This includes:

• 75 Kalyan stores in non-southern India, of which 5 will be larger flagship showrooms

• 15 additional stores in South India and international markets

• 80 Candere stores focused on Tier 1 and Tier 2 Indian cities

All upcoming Kalyan showrooms will follow the franchisee-owned, company-operated (FOCO) model, aligning with the company’s strategy to scale efficiently while maintaining operational control.

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