Kalyan Jewellers eyes over 25% growth in FY26, plans bullish offline expansion

Fine jewellery business Kalyan Jewellers is eyeing over 25% revenue growth in the 2026 financial year, fuelled by an increase in pace of its brick-and-mortar expansion and the rise in popularity of lower-carat jewellery designs. 

Kalyan Jewellers plans to open 160 new exclusive brand outlets this financial year split across its flagship brand and ‘Candere’ label, ET Retail reported. The business currently counts 278 ‘Kalyan’ brand fine jewellery stores and 73 Candere outlets, which specialise in affordable jewellery. 

With recent high prices of gold, Kalyan Jewellers has seen India’s middle class shoppers seek out lower carat and lightweight jewellery, ET Bureau reported. The business has also witnessed an uptick in shoppers choosing branded jewellery chains over local retailers for their gold jewellery purchases, in line with the organisation of India’s jewellery market. 

“The advantage of Kalyan today is we can grow across the country,” said Kalyan Jewellers’ executive director Ramesh Kalyanaraman in an interview, Reuters reported. “We have a lot of markets to go and explore.”