Tanishq, Kalyan, Malabar push zero-deduction gold swaps as record prices freeze fresh demand
Leading Indian jewellers are rolling out 100% value exchange schemes on old gold, scrapping the typical 4% deduction seen at chains like CaratLane. With elevated bullion prices and higher import duties deferring fresh purchases, brands are leaning into recycling 22-carat and 18-carat jewellery to keep footfalls and ticket sizes intact.
What happened
Indian jewellers including Tanishq, Kalyan, Malabar and CaratLane are pushing zero-deduction gold exchange schemes as elevated prices and higher import duties
Key facts
- 100% value exchange
- 4% deduction CaratLane
- 22-carat
- 18-carat
Why this matters
Consolidation window opening for sub-scale regional chains unable to absorb zero-deduction economics; scout distressed family-owned jewellers in tier-2 markets for roll-up targets.