Doha: Kalyan Jewellers has witnessed a surge in sales and revenues helped by strong festive demand. The demand for jewellery has surged across the country due to Dhanteras, which is one of the famous festivals in India. Dhanteras was celebrated on November 2 this year.
“Kalyan Jewellers has been witnessing a strong momentum in footfalls and revenue for the past three quarters, starting from the same period during the last financial year (third quarter of 2020-21). The traction has continued during this festive season, with October registering good sales momentum," said Ramesh Kalyanaraman (pictured), Executive Director at Kalyan Jewellers.
“On Dhanteras, we registered higher footfalls both from existing as well as new customers, resulting in robust revenue growth. While the sales momentum in the plain gold segment continued, we also witnessed a significant increase in the studded jewellery category,” he added.
On Dhanteras, usually, people in India flock to markets to purchase gold, silver ornaments and coins or buy new utensils. Dhanteras is considered to be an auspicious occasion by Hindus for buying precious metals and other valuable items. Kalyan Jewellers has launched new collections in gold and studded jewellery categories to meet the increased demand of customers.
“This season, we introduced new collections in both gold as well as studded jewellery categories. The all-new Sankalp line of designs introduced earlier this quarter, featured region specific traditional plain gold jewellery. We also launched Vedha, a precious-stone studded heritage jewellery collection, further bolstering our studded product portfolio,” he added.
The showrooms of Kalyan Jewellers have seen high footfalls due to the festive demand. The demand is expected to remain for coming months due to the ongoing festival season.
“The Middle East markets have also been vibrant from the start of this festive season and on Dhanteras. We are expecting this trend to continue, thanks to various events. The season so far has been upbeat and revenue growth across categories has been on target,” he added.
