Bengaluru, 07 January 2025: The recently concluded quarter has been a very fulfilling one recording consolidated revenue growth of approximately 39% when compared to the same period in the previous financial year.
Our India operations witnessed revenue growth of approximately 41% during Q3 FY2025 as compared to Q3 FY2024, led by very strong festive and wedding demand across both gold and studded categories. The quarter recorded healthy same-store-sales-growth of approximately 24%.
We launched 24 Kalyan showrooms in India during the recently concluded quarter, with a strong pipeline of showrooms set to open over the course of the current quarter.
In the Middle East, we witnessed revenue growth of approximately 22% when compared to the same period in the previous financial year. Middle East contributed ~11% to our consolidated revenue for the recently concluded quarter.
During the recently concluded quarter we launched our first showroom (Company Owned Company Operated) in the United States of America.
Our digital-first jewellery platform, Candere, recorded a revenue growth of approximately 89% during the recently concluded quarter as compared to the same period during the last year. We launched 23 Candere showrooms during Q3 FY 2025.
During the current quarter, we plan to launch 30 Kalyan showrooms and 15 Candere showrooms in India keeping us ahead of our announced showroom roll-out plan of 80 Kalyan showrooms and 50 Candere showrooms in India for FY 2025.
For FY 2026, we have drawn up plans to launch 170 showrooms across Kalyan and Candere formats – 75 Kalyan showrooms (all FOCO) in non-south India, 15 Kalyan showrooms (all FOCO) across south India and international markets and 80 Candere showrooms in India. We have already started signing LOIs for the Franchisee Owned Company Operated (FOCO) showrooms planned for the next financial year in India and international markets.
During the recently concluded quarter, we launched 46 net showrooms across Kalyan andCandere formats taking the total number of showrooms as on 31st December 2024 to 349 (Kalyan India – 253, Kalyan Middle East – 36, Kalyan USA – 1, Candere – 59).
