đ Indian Jewellery Firms Shine Despite Record Gold Prices
Major jewellery retailers reported strong Q3FY26 revenue growth even as gold hit record highs â driven by robust festive & wedding demand and value-led product mixes.
Key Facts:
đĄ Gold prices touched ~âč1,40,000/10 g â ~20% higher QoQ, ~75% higher YoY.
đ Kalyan Jewellers: 42% YoY consolidated revenue growth, strong same-store sales & digital platform momentum.
đ Titan (Tanishq, Mia, Zoya): ~41% YoY jewellery revenue growth; gold coins and studded jewellery soared.
âš P N Gadgil: ~46% YoY revenue growth with record festive season sales.
đ Jewellery players focused on lighter & lower-karat products to balance high gold costs.
Expert Insight:
Despite elevated gold costs, Indian consumers continued robust buying, helping organised jewellery players grow sales and expand their retail footprint.
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