Strong festive season sales drive growth for jewellery makers in Q2
- IBEF
- October 9, 2025
India’s jewellery sector experienced strong growth in the September quarter, supported by early festive demand and rising gold prices, which increased ticket sizes despite modest declines in footfall. Domestic revenue growth in the jewellery segment rose around 20%, outperforming market expectations, while key brands across the industry reported robust performance, with YoY growth ranging from 18% to 30%. Retail expansions continued, with multiple new stores opening during the quarter, enhancing availability and reach. Peers in the sector also recorded strong growth, reflecting the broader momentum from weddings, festive purchases, and marketing initiatives such as exchange offers and promotions.
Other segments of the lifestyle and consumer market showed mixed performance. Watches saw steady gains, particularly in the analogue category, while smart wearables faced a decline. Emerging categories such as fragrances and women’s bags recorded double-digit growth, while premium ethnic wear also posted healthy increases. Analysts noted that this growth came despite a high base from the previous year, seasonal factors, and elevated gold prices, which may continue to pressure margins. However, improvements in product mix, operational efficiencies, and growth in studded jewellery and watches are expected to offset the impact partially. Overall, the sector demonstrates resilient festive-season-driven momentum, supported by strategic promotions, expanding retail footprints, and strong consumer demand.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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