Kalyan Jewellers: plans to expand operations in 7 states & add 14 new showrooms
By Sanjay Kumar
News Highlights
- Kalyan Jewellers announced that the company is working to enhance its retail footprint by 13% in the first quarter.
- The company plans to increase operations across 7 states and add 14 new showrooms.
- The company will be present in 151 locations, which makes it the largest jewellery company in India.
One of the largest jewellery companies in India, Kalyan Jewellers has today announced that the brand is working to hike its retail footprint by 13% in the 1st quarter itself. The jewellery company plans to enhance operations across 7 states of the country and add 14 new showrooms as well.
At the time of scale-up existing operations in the tier-1 cities (Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Kolkata, Ahmedabad, and Pune) the company will also work on the tier-2 and tier-3 cities, with mid-size showrooms. Kalyan Jewellers will also make themselves more-stronger in Delhi, Mumbai and Hyderabad, with a showroom each in Dwaraka, Matunga, Lower Parel Phoenix Palladium, and Dilsukhnagar.
Chairman & Managing Director Mr T S Kalyanaraman said, “During the 1st quarter, the company is going to be adding a complete of 14 new outlets and strengthen our retail presence by 13 per cent. The Company has a strong presence across 21 states of the country, and we are very positive about the company will be able to capitalize on the foundations that we have set down, and leverage our already established processes, purchase ecosystem, and market understanding to aid growth momentum.”
Kalyan Jewellers plan to add 9 new showrooms across the locations like Noida, Nashik, Jamnagar, Pathanamthitta, Nagercoil, Madurai, and Trichy (Tamil Nadu), and Khammam as well as Karimnagar (Telangana).
Kalyan Jewellers today has 107 showrooms within the country and 30 in the Middle East. With new outlets, the company presently covers 151 locations, a golden milestone for any brand. Recently Kalyan Jewellers raised INR 1175 crore through an IPO and most of its proceeds are earmarked towards the enhancement of working capital. The Kalyan jewellers will increase their working capital by Rs.500 Crores in the 1st quarter.
While the company’s focus on online selling system Kalyan Jewellers, India’s biggest jewellery brand’s belief in the importance of offline stores with a primary focus on raising capital to open new jewellery stores outside south India, the company went in for an IPO on 16 March and is set to get listed on the bourses next week.
