New Laxmi Ltd: Helping A Local Jewellers Thrive in a Record-Breaking Gold Market

New Laxmi Ltd, a family-run jeweller in Aldershot, has spent over a decade crafting exquisite Nepalese and Indian jewellery from pure bullion gold. But with gold prices soaring to new highs, keeping up with demand has been a growing challenge. Read on to discover how a revolving credit facility helped this business navigate a record year in the gold market—whilst setting the stage for greater success.

A Heavy Price

The years of uncertainty following the global pandemic have seen gold prices surge. Central banks continued massive gold purchases in 2024, exceeding 1,000 tonnes for the third year in a row. Cuts in interest rates fueled even more demand through Q4. The final result was a staggering annual gold value of $382 billion.

For jewellers like New Laxmi, this boom has brought both opportunity and challenge. Shoppers have rushed to buy gold and jewellery, whether as an investment or for wedding and birth celebrations—where gold exchange is particularly important amongst South Asian communities. With stock flying off the shelves faster than it could be replaced, New Laxmi faced a serious hurdle: how to finance the rising cost of gold whilst keeping inventory levels high.

Government-backed recovery loans provided some initial relief but lacked the flexibility to keep up with fluctuating demand. As peak wedding season approached, New Laxmi needed a smarter, more adaptable financing solution—and they found it with Lenkie.

How Lenkie Helped

Within just two weeks, Lenkie provided New Laxmi with a flexible credit facility, allowing them to purchase gold instantly while spreading payments over 1 to 6 months. This meant they could craft and sell jewellery before repayments were due, cutting their sales cycle in half and boosting revenue. Since onboarding, their credit limit has grown consistently based on continued usage and their increasing requirement. 

Better still, as funds were repaid, they became available again—ensuring New Laxmi could restock effortlessly, even as gold prices continued to climb. With a simple, easy-to-use dashboard, managing cash flow has never been easier for this growing family business.

Looking Ahead

With economic indicators pointing to further gold market growth in 2025, jewellers like New Laxmi must stay agile to keep up with demand. Now backed by an expanded credit limit, New Laxmi is well-positioned to remain a leader in the industry—bringing hand-crafted, timeless jewellery to their ever-growing community.