Kalyan Jewellers to launch 9 new showrooms in September – October 2022
Aims to strengthen presence in non-South & Tier-2 markets and leverage the company’s franchise arm
Thrissur, August 23, 2022:Kalyan Jewellers, one of India’s largest jewellery companies, has today announced that it will be launching 9 new showrooms in non-South markets during September – October 2022. The announcement is part of the company’s expansion plans to increase the brand’s retail footprint in Tier-2 and Tier-3 markets as well as strengthen operations in micro-markets of Tier-1 cities such as Mumbai and New Delhi.
Speaking about the company’s expansion plans and strategies, Mr. Ramesh Kalyanaraman Executive Director, Kalyan Jewellers said, “As part of Vision-2025, we hope to increase the revenue contribution from non-South markets, which is now at approximately 35%. We are confident that the launch of 9 new showrooms across these markets will help us strengthen our sizable market share in the non-South markets. The 8% increase in footprint will help us capitalize on the foundations laid in existing markets and further leverage our already established processes, purchase ecosystem as well as market understanding to aid growth momentum.”
Kalyan Jewellers will strengthen its presence across the country, by launching 2 new showrooms in Uttar Pradesh at Lucknow and Varanasi, 3 new showrooms in Delhi- NCR region at Rajouri Garden, Gold Souk and Janakpuri. As part of the mega-expansion plan, 2 new showrooms will be added to the tally of showrooms in Maharashtra at Ahmednagar and Dombivali (Mumbai), while one showroom each will be launched in Orissa and Chhattisgarh. The company will be venturing into newer markets with the launch of its showroom at Behrampur in Orissa and Bilaspur in Chhattisgarh.
Talking about the company’s performance, he added, “On the back of a fantastic Q1 FY23, we believe the new showroom launches will further strengthen our overall revenue, especially with the ongoing festive and wedding season demand at its peak. We are focused on developing a robust economic model and execution roadmap for our franchise operations.” The company doubled its revenue in Q1 FY23, reporting 104% uptick in its revenue compared to the previous year.
Post the pre-Diwali expansion, the company will be present across 10 locations in New Delhi, and 8 locations in Mumbai, making the brand accessible as well as strengthening market share and its presence in these key metro markets. Kalyan Jewellers currently has 128 showrooms in India, of these 77 are in the South and 51 in the non-South regions. In the Middle East the company has 31 outlets. With the addition of these 9 showrooms, the brand will be present across 169 locations.
