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Kalyan Jewellers Q4 Update:Revenue Surges 37% Year-on-Year

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The recently concluded quarter has been a very fulfilling one recording consolidated revenue growth of approximately 37% when compared to the same period in the previous financial year despite extreme volatility in the gold prices.Our India operations witnessed revenue growth of approximately 39% during Q4 FY2025 as compared to Q4 FY2024, driven primarily by robust wedding demand. The quarter recorded healthy same-store-sales-growth of approximately 21%.

We launched 25 Kalyan showrooms in India during the recently concluded quarter, and another 3 showrooms during the first week of April 2025. We launched 14 Candere showrooms during Q4 FY 2025.

In the Middle East, we witnessed revenue growth of approximately 24% when compared to the same period in the previous financial year driven primarily by same-store-sales-growth. Middle East contributed approximately 12% to our consolidated revenue for the recently concluded quarter.

Our digital-first jewellery platform, Candere, recorded a revenue de-growth of approximately 22% during the recently concluded quarter as compared to the same period during the last year.

As communicated earlier, for FY 2026, we have drawn up plans to launch 170 showrooms across Kalyan and Candere formats – 75 Kalyan showrooms (all FOCO) in non-south India (including 5 larger-format flagship Kalyan showrooms), 15 Kalyan showrooms (all FOCO) across south India and international markets and 80 Candere showrooms in India. We have completed signing LOIs for the Franchisee Owned Company Operated (FOCO) showrooms planned for the year in India.

Kalyan is  upbeat about the ongoing quarter and are witnessing encouraging trends in the advance collections for both Akshaya Tritiya as well as for wedding purchases for the festive/wedding season.As of March 31, 2025, our total number of showrooms across India and the Middle East stood at 388 (Kalyan India – 278, Kalyan Middle East – 36, Kalyan USA – 1, Candere – 73).

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So/Facet Raises ₹10 Crore Led By Sauce To Build The Diamond Brand That Young India Has Been Missing

Mokobara’s Co-Founders, The Chona Family Office, Haleon South Asia’s Kedar Lele and Moonshot’s Devaiah Bopanna Also Invest; Brand Launches Online in November and Targets 30+ PremiumSstores In Three Years

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So/Facet, a premium lab-grown diamond jewellery brand founded by former Unilever leaders Aarushi Agrawal Naulakha and Abhishek Naulakha, has raised ₹10 crore in a seed round led by Sauce – its first institutional funding and the fund’s first investment in the category.

The round also saw participation from Mokobara co-founders Sangeet Agrawal and Navin Parwal; the Chona family office, behind HOCCO Ice Creams; Kedar Lele, President, Haleon South Asia; and Devaiah Bopanna, Co-founder, Moonshot. The capital will support brand building, design, technology, hiring and an omnichannel rollout. So/Facet launches online in November 2026 and aims to open over 30 premium stores in three years.

For decades, diamonds have been tied to prescribed occasions: proposals, weddings and anniversaries. Lab-grown diamonds have changed the economics, but much of the storytelling remains the same. So/Facet sees an opportunity to create a distinct identity for lab-grown diamonds – not as an affordable substitute, but as objects of self-expression, as personal as sneakers, watches or fashion. Its name reflects the many facets of a diamond and the many versions of the person wearing it. Its defining question, “What’s yours?”, invites people to celebrate moments on their own terms.

stayed outside that conversation

Aarushi Agrawal Naulakha, Co-founder, So/Facet said:

“Our generation expresses who we are through everything we wear, yet diamonds somehow stayed outside that conversation,”

“Why should a diamond need a proposal or someone else to gift it to you? It could mark the job you landed, the job you quit, the relationship you walked away from – or a Tuesday that simply felt like yours. We want people to decide what their diamonds mean. That’s the spirit of ‘What’s yours?“

Designed in-house, So/Facet’s six launch collections feature IGI-certified lab-grown diamonds, unusual cuts and contemporary design. So/Me brings playful shapes such as stars and butterflies; So/Pop pairs diamonds with colourful, stackable enamel charms; and So/Icon explores sculptural, design-led jewellery. Beyond design, So/Facet is building a technology-enabled, omnichannel experience that makes discovering, buying and upgrading diamond jewellery seamless across digital and physical touchpoints. The brand wants to make diamonds something customers can continually evolve with, rather than a purchase reserved for a single milestone. It has already built a pre-launch waitlist of over 200 potential customers.

Abhishek Naulakha, Co-founder, So/Facet said:

“We don’t believe India’s next great diamond brand will be built by selling the same jewellery for less,”

“It will be built on distinctive design, uncompromising quality and craftsmanship, and an experience that feels effortless – from the first discovery to every purchase and upgrade. We’re bringing together the timeless appeal of diamonds with a new-age approach to design, technology and retail. Our ambition is to build an iconic global brand, born in India, that makes diamonds relevant to a new generation.”

Manu Chandra, Managing Partner, Sauce said:

“Lab-grown diamonds have transformed the category’s economics, but few brands have reimagined what diamonds can mean.”

“Aarushi and Abhishek combine deep consumer-marketing experience with a sharp instinct for culture. So/Facet has the potential to build lasting desire, not just demand driven by price.”

Aarushi, a MICA Ahmedabad alumna and E4M 30 Under 30 honouree, held marketing roles & has 6 years of work ex across ITC and Unilever, including work on Dove and TRESemmé, and has a community of over 100,000 across Instagram and LinkedIn.
Abhishek, an IIM Ahmedabad and SRCC alumnus, spent seven years at Unilever in India and global sales and marketing roles, most recently as Global Beauty & Wellbeing Channel & Portfolio Lead.

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