Jewellery sales to hike in FY24

Jewellery sales is expected to rise in FY24, from 8-10% to 10-12%.

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ICRA estimated the revenue growth of organised jewellers at 15-18% YoY

Source: @ICRALimited Twitter handle

The elevated price levels supported revenue expansion for most jewellery retailers in the country.

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ICRA projects some moderation in FY24 in the operating margins of organised players.

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The organised jewellers had recommenced their retail expansion in FY23.

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