On a low year-on-year basis, revenues nearly tripled, clocking a growth of 207 percent. Both walk-ins and buyers grew in-line with revenues whereas ticket size marginally improved compared to April June quarter previous year. Growth in plain gold jewellery was nearly three-times whereas studded sales was comparatively higher year-on-year. Studded mix was better than last year and comparable to pre-Covid levels seen during this quarter. Regional campaigns continued to yield good results. Weddings growth was slightly lower year-on-year compared to revenue growth but the share in the overall pie continued to be stable. Store expansions (net) continued with commissioning of six new domestic stores in Tanishq and 13 in Mia. Retail metrics of sales growth, walkins, conversions and jewellery mix including studded ratios continued to be healthy across all international stores. Tanishq's pan-India campaigns for new collections of 'Live a Dream' and 'Rhythms of Rain' and regional campaigns of 'Uttama' for Poila Baisakh in West Bengal (WB) and 'Rajadhiraj' for Lord Jagannath Yatra in Odisha and WB were well received. 'Wavemakers', 'Mia for Kids', and 'Gift Smart Gift Mia' were few notable Mia campaigns for the quarter.
Zoya's campaigns centered on its new collections of Aeterina', 'Anew' for Akshaya Tritiya and 'Infinitely Her'- a digital only campaign for polki collections.
Rebound in offshore demand
Esta historia es de la edición July 2022 de Mines to Market Magazine.
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Esta historia es de la edición July 2022 de Mines to Market Magazine.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
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Finestar Jewellery & Diamonds Namibia Factory Inauguration
Finestar Jewellery & Diamonds held the Inauguration Ceremony of its Diamond Manufacturing Factory in Windhoek, the capital of the Republic of Namibia on 15th July, 2022. This event celebrated the beginning of their beneficiation journey in Namibia which began in April 2021.
Gemological Institute of America To Move Into DMCC's Uptown Tower in Dubai
DMCC the world's flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise - has announced that the world's foremost authority on diamonds, coloured stones, and pearls, the Gemological Institute of America (GIA), through its subsidiary GIA Laboratory DMCC, will lease space for a new gemmological laboratory in Dubai's latest landmark - DMCC's Uptown Tower.
Jewellery & Gem WORLD Singapore from 27th Sep
Hong Kong: Prominent names in the diamond world will showcase their brilliance at Asia's top B2B jewellery sourcing destination of the year - Jewellery & Gem WORLD Singapore (JGW Singapore).
De Beers Appoints New Official
New York: De Beers has appointed Ivette Nersesyan-Stephanopoulos as vice president of Code of Origin and trade services for North America.
Zimbabwe Rakes in US$700m from Diamonds
Harare: Zimbabwe sold diamonds worth US$700 million last year, but foreign currency shortages persist, while a huge financing gap has left public amenities such as hospitals on the brink of collapse.
Complex challenges for jewellery sector
According to Somasundaram PR, Managing Director, World Gold Council India, gold is facing some complex challenges in the second half of the year.
Akshaya Tritiya boost sales for Tanish
Tanishq, the jewellery division of Titan Industries Ltd had had a good start to FY23 with robust sales on the auspicious occasion of Akshaya Tritiya in May month after two years of Covid-induced lockdowns in this period.
Gold demand loses lustre after initial surge, the second half could be better than the first half
Gold jewellery industry in India is currently undergoing a slowdown phase due to a sharp increase in import duty coupled with sustained rise in inflation that squeezes disposable savings for the average middle class.
Honours the winners of PGI's flagship programme.
PGI INDIA FELICITATES PLATINUM SEASON OF LOVE 2022 AWARD WINNERS AT THE AWARDS
Diamond Industry on Path of Recovery
For the Indian and global diamond industry, past years Following turbulent conditions in 2020, the diamond industry proved to be brilliant and resilient, and delivered a spectacular showing in 2021.
