Representative Image After the sharp reduction in import duty announced in the Union Budget, the revenues of organised gold jewellery retailers will increase 22-25 per cent this fiscal (year-on-year) – a solid 500-600 basis points (bps) more than the 17-19 per cent expected earlier, a report showed on Monday. The incremental growth will be driven…
Representative Image Gold demand in India during the upcoming festive season is likely to remain robust, as the substantial reduction in import duty has made prices appealing, providing comfort to retail consumers and encouraging purchases, industry officials said. Higher demand in the world’s second-largest gold consumer could support a rally in global prices, which hit…
Jewellery retailer Bluestone has closed a Rs900-crore financing round that more than doubles the IPO-bound firm’s valuation to $970 million, or Rs 8,100 crore, multiple people aware of the development said. The Accel-backed firm is now set to file the draft red herring prospectus for its initial public offering (IPO) with the stock market regulator…
New Delhi: The Aditya Birla Group on Friday launched a jewellery retail brand, Indriya, that directly pits it against the Tata Group‘s Tanishq and the Reliance Group‘s Reliance Jewels, and other national chains such as Kalyan Jewellers and Joyalukkas. The conglomerate with business interests spanning metals and cement to financial services and fashion is entering…
India‘s gold imports in 2024 could fall by nearly a fifth from the previous year, as record high prices spur retail consumers to exchange old jewellery for new items, the head of an industry body told Reuters. Lower imports by India, the world’s second biggest consumer of the precious metal, could cap a rally that…
Representative image Chennai: Jewellery brand Mia by Tanishq from the diversified conglomerate Tata Group has inaugurated four new stores in Tamil Nadu under its expansion exercise, the company said on Friday. Marking the inaugural, the brand has offered discounts of up to 20 per cent on Mia’s range of products till May 5. The company…
Representative image. Over century-old noted jewellery retailer Vummidi Bangaru Jewellers has forayed into the United States market with the launch of a new store in Dallas, the company said on Wednesday. Over the next three years, the company has planned to strengthen its presence with three more stores in the US and eight in Tamil…
Representative Image New Delhi: Jewellery retailer BlueStone will use the majority of its recently raised funds to expand its footprint across the country, the company’s founder and CEO, Gaurav Singh Kushwaha told ETRetail. The company currently has around 178 stores across the country, as compared to 155 stores at the end of last year. As…
Kalyan Jewellers on Friday said it plans to open 33 new showrooms in India before Diwali. The company, in a regulatory filing, said it will unveil showrooms in Kalyan and Candere formats across the country. Kalyan Jewellers had launched 13 showrooms across non-south markets during July-September quarter of the current fiscal. In addition, the company…
Senco Gold, the largest organised jewellery retail player in eastern India, is likely having a golden run since its marktrading debut that added glitter to the brand value and led to increased footfall across stores. “We are seeing additional footfalls and our brand awareness among customers have increased due to the IPO,” Managing Director Suvankar…
