APN News

  • Thursday, March, 2020| Today's Market | Current Time: 02:18:18
  • Hyderabad: – Kalyan Jewellers, India’s leading and trusted jewellery manufacturer and Kalyandistributor, Kalyan Jewellers will be investing Rs. 800 crore on retail expansion to take its store strength to 100. The expansion will commence with the company’s foray into the Chennai market. The company is investing close to Rs. 200 crore for its first showroom in Sir Theyagaraya Road in T Nagar, the hub for jewellery retail in South India.  This is the largest investment by any jeweller in a single showroom across the country. The company is also evaluating the prospects of entering major south Asian markets like Singapore, Malaysia and Sri Lanka.

    After successfully establishing itself in a highly regulated environment and seen high levels of gold price volatility, the industry may like to reduce its risk. However, Kalyan still believes in large investment, heavy inventory and higher sales volume and value. Kalyan Jewellers is at present on the cusp of growth and is leaving no stone unturned to become a leading player it its area of expertise. Giving impetus to its growth mission the company is planning to invest Rs. 200 crore in its flagship store in Chennai.

    Kalyan Jewellers has been aggressively expanding its distribution network after the recent equity infusion of Rs. 1,200 crore by Warburg Pincus. The company has been consolidating its national presence and expanding in West Asia. “We are investing Rs. 800 crore in the next fiscal to open 22 showrooms in India and West Asia. We are targeting 30% growth in topline to Rs. 13,000 crore and enhancing the distribution network by 30% in the year. The company is also in the process of converting its 570 çustomer service centres into mini ‘’My Kalyan’’ stores which will focus on selling affordable diamonds to capitalise on the potential of this category. We are also ramping up our manufacturing operations and plan to have India’s biggest production house by 2017,” said Rajesh Kalyanaraman, Executive Director.

    Today, Kalyan has presence across South India, Maharashtra, Gujarat, National Capital Region (NCR) and Punjab, and has a network of 65 exclusive showrooms in India and 12 exclusive outlets in West Asia — including nine in the United Arab Emirates and three in Kuwait. Kalyan Jewellers has identified Chennai, Kolkata and Bhubaneswar as the new markets for expansion in India in this financial year. The company is launching in Qatar with six showrooms. Kalyan is also consolidating its existing presence in the NCR, Maharashtra, Gujarat and Kerala by opening showrooms in Gurgaon, Noida, Pune, Mumbai and Kodungallor.

    The bespoke showroom is spread across 40,000 sq. feet and will display 600 kg of jewellery and offer a wide variety of more than 5,00,000 contemporary and traditional designs. Customers can access a private lounge through prior appointment for an exclusive experience. A designated children’s play area inside the showroom creates an inclusive and comfortable shopping environment for families.