The revenue of organised jewellery retailers is likely to grow by 20 per cent in 2022-23 due to tightening regulations, change in consumer preferences towards branded jewellery and planned expansion, according to a report.
The organised jewellery retailers in India continue to outpace the industry over the medium term on the back of industry tailwinds in the form of an accelerated shift in market demand from unorganised retailers and planned expansion of retail presence, Icra said in a report. The rating agency estimates organised jewellers to record revenue growth of 20 per cent in FY23.