3 Gold Jewellery Retailer, Premium Footwear Chain and Luggage Brand Leader Stocks With a Strong Future Roadmap: Senco Gold, Metro Brands and Safari Industries (India)

Senco Gold, Metro Brands and Safari Industries (India): ROE of 15.1% to 22.9% and FY22 to FY26 revenue CAGR of 20.6% to 30.6%. Prices as of 23 Oct 2026.

Updated: 26 Oct 2026 • 4:38 pm

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The three gold jewellery, shoe and luggage retail stocks to watch are Senco Gold, Metro Brands and Safari Industries (India). Their return on equity ranges from 15.1% to 22.9%, and their revenue compound annual growth from FY22 to FY26 ranges from 20.6% to 30.6%. Senco Gold has the highest return on equity at 22.9%, while Safari Industries (India) has the fastest revenue growth at 30.6% a year. Prices are based on the 23 October 2026 close, and this article is educational, not investment advice.

Gold jewellery, shoe and luggage retail stocks let investors follow companies that serve a growing part of the Indian economy. Senco Gold, Metro Brands and Safari Industries (India) cover a gold jewellery retailer, a premium footwear chain and a luggage brand leader.

This list covers three gold jewellery, shoe and luggage retail stocks with complete current figures: Senco Gold, Metro Brands and Safari Industries (India). Every figure comes from the latest reported financials and the 23 October 2026 market close. Companies without complete current figures were left out.

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Table of Contents

What Are Gold Jewellery, Shoe and Luggage Retail Stocks?

Gold jewellery, shoe and luggage retail stocks are listed consumer companies that sell jewellery, shoes and travel bags through large retail and distribution networks. Their earnings depend on festive demand, travel trends, store expansion and input costs.

Gold Jewellery, Shoe and Luggage Retail Stocks at a Glance

Company	CMP (Rs)	Market Cap (Rs Cr)	P/E	Industry P/E	ROE (%)	D/E
Senco Gold	309.3	5,063	8.9	44.3	22.9	1.07
Metro Brands	819.3	23,316	55.4	37.0	19.8	0.76
Safari Industries (India)	1,225.8	6,495	39.4	36.4	15.1	0.10

On valuation, Senco Gold trades at a P/E below the industry P/E, while Metro Brands and Safari Industries (India) trade above it, which reflects the growth the market already expects. Readers comparing gold jewellery, shoe and luggage retail stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.

Why Do Gold Jewellery, Shoe and Luggage Retail Stocks Have a Strong Roadmap in India?

Gold jewellery, shoe and luggage retail stocks have a strong roadmap in India because rising incomes, wedding demand and growing travel keep lifting spending on branded purchases.

Festive demand. Weddings and festivals lift jewellery sales.
Store growth. New outlets bring brands to more cities.
Travel trends. More trips raise luggage demand.

Why Senco Gold Features Among These Gold Jewellery, Shoe and Luggage Retail Stocks

Among the gold jewellery, shoe and luggage retail stocks on this list, Senco Gold & Diamonds is a Kolkata-based jewellery retailer with a large network of owned and franchise showrooms, selling gold, diamond and silver jewellery across many states.

The company has a return on equity of 22.9%, a debt to equity ratio of 1.07 and a market capitalisation of Rs 5,063 crore. The stock trades at a P/E of 8.9, below the industry P/E of 44.3.

Revenue rose from Rs 3,547 crore in FY22 to Rs 8,510 crore in FY26, a compound annual growth rate of 24.5%. Net profit grew from Rs 129 crore in FY22 to Rs 574 crore in FY26, which works out to a compound annual growth rate of 45.2%.

Roadmap: The company is expanding in southern and western India and growing its studded and lightweight jewellery ranges. Its long heritage in eastern India gives it a loyal customer base.

What to watch: Track showroom additions, studded jewellery share and gold price trends.

Why Metro Brands Features Among These Gold Jewellery, Shoe and Luggage Retail Stocks

Among the eastern jewellery chain shares on this list, Metro Brands is a Mumbai-based footwear retailer operating the Metro, Mochi, Walkway and Crocs outlets, and also selling through online channels and select partner brands.

Revenue rose from Rs 1,402 crore in FY22 to Rs 2,968 crore in FY26, a compound annual growth rate of 20.6%. Net profit grew from Rs 213 crore in FY22 to Rs 416 crore in FY26, which works out to a compound annual growth rate of 18.2%.

The company has a return on equity of 19.8%, a debt to equity ratio of 0.76 and a market capitalisation of Rs 23,316 crore. The stock trades at a P/E of 55.4, above the industry P/E of 37.0.

Roadmap: The company is opening new stores across cities and adding premium and international brands to its range. An omni-channel presence helps it reach a wider set of shoppers.

What to watch: Track store openings, premium brand share and online sales.

Why Safari Industries (India) Features Among These Gold Jewellery, Shoe and Luggage Retail Stocks

Among the three companies on this list, Safari Industries (India) makes hard luggage and soft luggage, including trolley bags and backpacks, and sells through retail stores, online channels and distributors.

In the June 2026 quarter, revenue grew 11.6% year on year to Rs 596 crore. Revenue rose from Rs 713 crore in FY22 to Rs 2,072 crore in FY26, a compound annual growth rate of 30.6%.

Net profit grew from Rs 22.4 crore in FY22 to Rs 168 crore in FY26, which works out to a compound annual growth rate of 65.5%. The company has a return on equity of 15.1%, a debt to equity ratio of 0.10 and a market capitalisation of Rs 6,495 crore. The stock trades at a P/E of 39.4, above the industry P/E of 36.4.

Roadmap: Rising travel, a shift to branded luggage and capacity additions support its sales. The company's push for a premium range and wider retail reach adds to demand, and a bigger plant network supports growth.

What to watch: Follow travel demand trends and the pace of capacity ramp-up.

Senco Gold vs Metro Brands vs Safari Industries (India) on Key Financials

The table below sets the three gold jewellery, shoe and luggage retail stocks side by side on revenue, profit and margin, using reported figures.

Company	FY22 Revenue (Rs Cr)	FY26 Revenue (Rs Cr)	Revenue CAGR (FY22-FY26)	FY26 Net Profit (Rs Cr)	FY26 Net Margin
Senco Gold	3,547	8,510	24.5%	574	6.7%
Metro Brands	1,402	2,968	20.6%	416	14.0%
Safari Industries (India)	713	2,072	30.6%	168	8.1%

Senco Gold posts the highest return on equity in this group at 22.9%. Senco Gold has the largest FY26 revenue at Rs 8,510 crore, and Safari Industries (India) shows the fastest revenue growth with a 30.6% compound annual rate. A useful habit with gold jewellery, shoe and luggage retail stocks is to check each new quarterly result against the capacity plans the company described earlier.

Key Risks to Check Before Investing in Gold Jewellery, Shoe and Luggage Retail Stocks

Every theme carries risks that deserve a check before any decision. For these gold jewellery, shoe and luggage retail stocks, the main points are:

Gold prices. Sharp moves in bullion can affect jewellery demand.
Competition. New brands and online sellers add pressure.
Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.

Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.

Use the Univest Stock Screener to filter gold jewellery, shoe and luggage retail stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.

Final Thoughts on Gold Jewellery, Shoe and Luggage Retail Stocks

Gold jewellery, shoe and luggage retail stocks reward investors who follow demand trends, order books and margins together. Senco Gold, Metro Brands and Safari Industries (India) each have a clear plan to expand. Based on the 23 October 2026 close, Senco Gold trades at Rs 309.3, Metro Brands at Rs 819.3 and Safari Industries (India) at Rs 1,225.8.

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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).

What are gold jewellery, shoe and luggage retail stocks?

Ans. Gold jewellery, shoe and luggage retail stocks are listed consumer companies that sell jewellery, shoes and travel bags through large retail and distribution networks. Their earnings depend on festive demand, travel trends, store expansion and input costs. This list looks at three of them, Senco Gold, Metro Brands and Safari Industries (India), using reported FY22 to FY26 financials and the 23 October 2026 closing prices.

Which gold jewellery, shoe and luggage retail stocks are covered in this list?

Ans. This list covers Senco Gold, Metro Brands and Safari Industries (India). Based on the 23 October 2026 close, Senco Gold traded at Rs 309.3, Metro Brands at Rs 819.3 and Safari Industries (India) at Rs 1,225.8. Their return on equity ranges from 15.1% to 22.9%, and their revenue compound annual growth from FY22 to FY26 ranges from 20.6% to 30.6%.

Why do gold jewellery, shoe and luggage retail stocks have a strong future roadmap in India?

Ans. Gold jewellery, shoe and luggage retail stocks have a strong roadmap in India because rising incomes, wedding demand and growing travel keep lifting spending on branded purchases. The main drivers are as follows. Festive demand. Weddings and festivals lift jewellery sales. Store growth. New outlets bring brands to more cities. Travel trends. More trips raise luggage demand. Together these factors give the companies on this list a visible path for growth over the coming years.

How has Senco Gold performed financially?

Ans. Revenue rose from Rs 3,547 crore in FY22 to Rs 8,510 crore in FY26, a compound annual growth rate of 24.5%. Net profit grew from Rs 129 crore in FY22 to Rs 574 crore in FY26, which works out to a compound annual growth rate of 45.2%. The company has a return on equity of 22.9%, a debt to equity ratio of 1.07 and a market capitalisation of Rs 5,063 crore. The stock trades at a P/E of 8.9, below the industry P/E of 44.3. Looking ahead, the company is expanding in southern and western India and growing its studded and lightweight jewellery ranges. Its long heritage in eastern India gives it a loyal customer base.

How has Metro Brands performed financially?

Ans. Revenue rose from Rs 1,402 crore in FY22 to Rs 2,968 crore in FY26, a compound annual growth rate of 20.6%. Net profit grew from Rs 213 crore in FY22 to Rs 416 crore in FY26, which works out to a compound annual growth rate of 18.2%. The company has a return on equity of 19.8%, a debt to equity ratio of 0.76 and a market capitalisation of Rs 23,316 crore. The stock trades at a P/E of 55.4, above the industry P/E of 37.0. Looking ahead, the company is opening new stores across cities and adding premium and international brands to its range. An omni-channel presence helps it reach a wider set of shoppers.

How has Safari Industries (India) performed financially?

Ans. Revenue rose from Rs 713 crore in FY22 to Rs 2,072 crore in FY26, a compound annual growth rate of 30.6%. Net profit grew from Rs 22.4 crore in FY22 to Rs 168 crore in FY26, which works out to a compound annual growth rate of 65.5%. In the June 2026 quarter, revenue grew 11.6% year on year to Rs 596 crore. The company has a return on equity of 15.1%, a debt to equity ratio of 0.10 and a market capitalisation of Rs 6,495 crore. The stock trades at a P/E of 39.4, above the industry P/E of 36.4. Looking ahead, rising travel, a shift to branded luggage and capacity additions support its sales. The company's push for a premium range and wider retail reach adds to demand, and a bigger plant network supports growth.

What risks should investors check before buying gold jewellery, shoe and luggage retail stocks?

Ans. Investors should check a few risks before buying gold jewellery, shoe and luggage retail stocks. Gold prices. Sharp moves in bullion can affect jewellery demand. Competition. New brands and online sellers add pressure. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.

Is this list of gold jewellery, shoe and luggage retail stocks investment advice?

Ans. No. This article is educational and uses publicly available data as of the 23 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.