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Branded jewellery segment sees 25% growth this Akshaya Tritiya

Besides the wedding season, better consumer sentiment and shift to the organised sector added impetus to the growth this year

Branded jewellery sales jumped at least 20-25% on the occasion of Akshaya Tritiya on Wednesday over the same period last year despite a rise in gold prices. The wedding season coinciding with Akshaya Tritiya this year also propelled the sales of gold and diamonds across the country, in both metros and non-metros.

For Kalyan Jewellers, the growth this year was over 25%. “We are enthused by the sales on the occasion of Akshaya Tritiya across the country. The momentum of customers has only increased during the day. We have witnessed over 25% growth in sales for the same period last year. The price of gold does not seem to have dampened the spirit of the auspicious occasion,” said TS Kalyanaraman, Chairman and Managing Director, Kalyan Jewellers.

Tata Group’s jewellery brand Tanishq said it has a better Akshaya Tritiya as the company witnessed growth higher than expected.

“We performed well this Akshaya Tritiya compared to previous years, the growth was much higher than expectations and jewellery sales growth was very encouraging. The overall customer sentiment was quite positive in metros. At Tanishq, we also saw customers buying wedding jewellery and there was good pick up from non-metro markets, in line with our expectations," said Sandeep Kulhalli, Senior Vice President, Marketing and Retail, Jewellery Division, Titan Company Limited.

Besides the wedding season, better consumer sentiment and shift to the organised sector added impetus to the growth this year, according to Kalyanaraman.

“The positive triggers, including better consumer sentiment and shift to the organised sector, have helped. Our ongoing global campaign of ‘Win 25 Mercedes Benz’ and free gold coins against select purchases has added further excitement. We have witnessed a combination of big-ticket wedding purchases coinciding with the occasion, as also light weight purchases,” he added.

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