Jewellery retailers’ earnings jump 25–35% in 1Q
Corporate retailers continued their aggressive store expansion Recently, Kavita Chacko, Research Head, India-World Gold Council published India's gold market update, Rally and demand realignment! Where she said, Stronger quarter for corporate retail jewellers! Earnings reports from leading jewellery retailers for January-March quarter point to a strong performance, with average revenue growth up 25–35% y/y. This was largely fuelled by wedding related demand, festive buying, and a noticeable consumer shift toward gold – both as an adornment and a store of value. While high gold prices tempered demand at the lower price points, the premium segments remained fairly resilient. Average transaction values reportedly rose by 15% to 20% y/y. Also, there was an uptick in old gold exchanges, which contributed to overall sales volumes. Corporate retailers continued their aggressive store expansion strategy, adding 10 to 30 new outlets during the quarter and ...