Indian jewelry retailer Kalyan Jewellers expects robust growth exceeding 25% this year as it accelerates its expansion with 160 new locations planned.
The company is benefiting from changing consumer behavior, with customers preferring established chains over independent jewelers, shopping more frequently, and spending more on gifts.
While high gold prices haven’t deterred wealthy buyers, middle-class consumers are shifting to lighter, lower-carat options.
The retailer’s aggressive growth strategy aims to match market leader Titan’s “Tanishq” store count in three years.