Jewellery Sector Posts Strong Double-Digit Growth in Q2 Driven by Festive Demand

Major Indian jewelry companies reported strong double-digit growth in the September quarter (Q2) despite a significant surge in gold prices, propelled by early festive demand, weddings, and robust international performance. The period was characterized by aggressive retail expansion and notable increases in online sales across leading brands. →

's overall consumer businesses grew by 20% year-on-year (YoY), with its domestic jewelry business growing by 19% and domestic operations by 18%. Titan countered the impact of the previous year's high base (due to a custom duty reduction) with the early onset of the festive season in September. → Higher gold prices led to a rise in average ticket sizes, which compensated for a marginal decline in the buyer count. → Titan significantly expanded its network by adding 55 new stores during the quarter, including 34 new jewelry outlets (Tanishq, Mia, CaratLane). Titan's international business grew strongly by 86% YoY, with sales doubling in the US and double-digit growth recorded in the GCC region. → reported a 30% growth in consolidated revenue, with its India operations rising 31% YoY, primarily driven by robust wedding demand. Kalyan Jewellers' same-store sales grew around 16%, while its digital platform, Candere, posted a 127% growth. The company added 15 new showrooms in India and 15 Candere outlets. →PN Gadgil Jewellers reported record festive sales of ₹618 crore during Navratri and Dussehra, representing a 65% increase over the previous year. → ’s standalone revenue also posted strong growth, rising by 63%.