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
This story is from the July 2022 edition of Mines to Market Magazine.
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This story is from the July 2022 edition of Mines to Market Magazine.
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