National News
Jewellery Stocks Rebound as Expansion Strategies and High Prices Boost Confidence
Despite Concerns Over Rising Gold Prices, Retailers Remain Optimistic, with Major Players Gaining 2-20% in a Week
Jewellery stocks have made a strong comeback in the past week after a challenging three-month period marked by concerns over rising gold prices and their potential impact on demand. While higher gold prices have weighed on volume growth, jewellery companies are staying optimistic, anticipating continued top-line growth in the March quarter, driven by expansion plans and higher average transaction values.
Stocks of listed jewellery companies such as Titan Company, Kalyan Jewellers, PN Gadgil Jewellers, Thangamayil Jewellery, and Senco Gold have gained between 2% and 20% in the last week, recovering from the 4% to 40% drop seen over the past three months. Although fluctuating gold prices remain a challenge, their dual effect on revenues and affordability continues to be a major consideration for retailers. While higher gold prices boost revenue, they also reduce customer purchasing power, leading to slower volume growth. Seasonal factors, such as weddings and festivals, also play a key role in shaping demand.
Despite short-term pressures, jewellery retailers are doubling down on their expansion strategies. Kalyan Jewellers, for instance, plans to open 170 new stores in FY26, with 45 of them expected to be launched by the end of the March 2025 quarter. Titan Company added 46 new stores in the December quarter, bringing their total store count to 1,055. PN Gadgil Jewellers is also targeting 25 new stores in FY26, including 10 under its new format, LiteStyle by PNG, designed to appeal to younger customers with modern designs.
These expansion efforts signal the sector’s confidence in long-term demand for jewellery, despite the challenges posed by fluctuating gold prices.
BrandBuzz
VBJ SINCE 1900 Fiesting Over 2000 Unique Jhumka Designs
VBJ Since 1900 celebrates India’s timeless love for jhumkas with its grand Jhumka Festival, showcasing over 2,000 exquisite designs that blend heritage craftsmanship with modern elegance, extending the celebration through December.
VBJ Since 1900 (Vummidi Bangaru Jewellers) India’s most trusted heirloom jewellery brand continues to captivate jewellery connoisseurs with its Jhumka Festival – the flavour of the season giving patrons a further chance to experience the timeless charm reimagined for today’s generation.
The Jhumka Festival celebrates India’s enduring love for the iconic earrings. Featuring over 2,000 unique designs across the categories, gold, silver, diamond and platinum capturing the intricate artistry and timeless craftsmanship. Blending filigree, temple-inspired motifs and modern silhouettes, each piece is a symphony of creating balance between heritage and contemporary elegance.
Speaking about the festival, Amarendran Vummidi, Managing Partner, VBJ Since 1900, said, “For 125 years, VBJ has honoured India’s jewellery traditions while evolving with changing times. This festival elevates the jhumka from a staple to a hero piece – crafted for movement, identity, and expression.”
Jithendra Vummidi, Managing Partner, VBJ Since 1900, added, “A jhumka is more than an ornament – it holds memory, character, and emotion. With this festival, we celebrate a form that resonates across generations, offering timelessness with relevance.”
As a fifth-generation family-run brand, VBJ Since 1900 takes immense pride in its role as the makers of the historic Sengol (sceptre) – a sacred symbol of India’s democratic journey. Discovered after 72 years, the Sengol was meticulously researched and identified by the VBJ team before being installed beside the Speaker’s chair in India’s new Parliament building. Much like the Sengol, the Jhumka Festival stands as a reflection of VBJ’s continuing mission to honour legacy through artistry and celebrate the stories that shape India’s cultural heritage.
During the festive season of Golu and Diwali last month, VBJ witnessed an overwhelming response to its Jhumka Festival – as customers embraced unique designs that seamlessly blend heritage with contemporary charm. Extending the festival till the mid of December is VBJ’s way of celebrating that continued love and demand. Building on this festive momentum, VBJ also showcased the Jhumka’s at Ignition,held at the ITC Grand Chola.
Through the Jhumka Festival, VBJ Since 1900 celebrates heritage and innovation. The collection, available at VBJ stores in Anna Salai and Anna Nagar as well as online, offers select customisation – continuing the brand’s legacy of timeless elegance and bespoke service.
VBJ SINCE 1900 Fiesting Over 2000 Unique Jhumka Designs
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