Mumbai, July 8 -- This growth came despite challenges posed by gold price volatility. According to the company's exchange filing, while the Akshaya Tritiya festival period witnessed healthy traction, a significant increase in gold prices from May to mid-June led to a softening in customer purchases. Buyer growth remained flat YoY for both Tanishq (TMZ) and CaratLane.

In response to elevated gold prices, consumers showed a clear preference for lightweight and lower karatage jewellery. The studded jewellery segment saw a lower contribution compared to last year, largely due to differential growth across segments. Coins remained a strong performer, plain gold jewellery grew in the mid-teens, and the studded segment posted early double-digit...