Waman Hari Pethe Jewellers, a name synonymous with heritage and trust since 1909, has expanded its legacy with the grand opening of its 30th showroom in Thane. This marks a significant chapter in the brand’s 116-year journey of delivering timeless craftsmanship and impeccable quality.

The new showroom was inaugurated in the presence of esteemed guests, including Ramesh Vaze, Chairman of S.H. Kelkar & Co. Ltd., and National Award-winning filmmaker Ravi Jadhav, along with long-time patrons and senior members of the company.

Designed as a modern retail destination, the state-of-the-art Thane showroom showcases an extensive range of gold, diamond, and Polki jewellery, blending traditional artistry with contemporary elegance.

Commenting on the launch, Ashish Pethe said, “Opening our 30th showroom is a testament to the trust our customers have placed in us. Our patrons had to travel to Mumbai for buying with us. Now we are happy to come to Thane to serve our loyal customers. Thane’s vibrancy makes it an ideal location to serve our discerning clientele.”

The launch event also featured an exclusive preview of new collections, continuing the brand’s promise to offer jewellery that helps create lasting memories.

With this new addition, Waman Hari Pethe Jewellers reinforces its commitment to being closer to its customers while upholding its legacy of excellence in jewellery.

Gold prices edged lower to around $3,330 in early Asian trading on Monday, pressured by stronger-than-expected US economic data. The drop comes ahead of a key meeting later in the day between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy, which traders are watching closely for geopolitical signals.

Last week’s US Producer Price Index (PPI) rose 3.3% year-on-year in July, well above market expectations of 2.5% and the previous 2.4%. The hotter-than-expected inflation reading reduced bets on a potential Federal Reserve rate cut in September, creating headwinds for the yellow metal.

Adding to the picture, US Retail Sales grew 0.5% month-on-month in July, matching forecasts but slightly below June’s upwardly revised 0.9%.

While strong economic data pressures gold, safe-haven demand linked to geopolitical tensions may limit further downside in the near term.

Pandora reported steady growth in the second quarter despite global challenges, while announcing plans to close about 100 underperforming stores in China to streamline its retail network. The closures are higher than the 50 previously expected, meaning net global openings will now total 25 to 50 this year, compared to the earlier forecast of 50 to 75. Still, Pandora aims to expand its footprint by 400–500 stores by 2026.

 Product mix contributed negatively driven by the strong performance in Collabs and Pandora Lab-Grown Diamonds, which both carry gross margins below group level,

For the quarter ending June 30, revenue rose 4% to DKK 7.08 billion ($1.11 billion), with organic growth of 8% and like-for-like sales up 3%, driven by strong US demand, especially during Mother’s Day. Profit inched up 0.5% to DKK 803 million ($125.9 million). Lab-grown diamond sales surged 36%, though their lower margins pressured profitability.

Pandora also flagged potential tariff impacts, estimating costs of DKK 200 million in 2025 and DKK 450 million in 2026, and may consider price increases to offset pressures.