Kalyan Jewellers to Invest Rs. 600 Crore to Expand

kalyanThrissur: Kalyan Jewellers announced that it will hit the 100 showroom mark by the end of this financial year by adding 14 new showrooms, with 7 in India and 7 in West Asia.  The company is investing Rs. 350 crore to expand its distribution capabilities, especially in the Northern and Eastern regions of the country and will spend another Rs. 250 crore for the proposed entry into Qatar.

In India, the company is consolidating its presence in the Eastern region by launching 2 showrooms in Kolkata. The company had made a foray into the East earlier this year with the Bhubaneswar showroom.

Kalyan is also making an entry into Rajasthan with 3 showrooms. It will be opening 2 showrooms in Chennai taking its tally to 5 in the county’s biggest jewellery market. Kalyan Jewellers flagship showroom in Chennai was inaugurated earlier this financial year with an investment of 200 cr on April 17th. In West Asia, the company plans to make a foray into Qatar with 7 new showrooms.

T.S. Kalyanaraman, Chairman and Managing Director of Kalyan Jewellers said that, “We have gradually expanded our footprint in the North and East regions of the country and the new launches in Rajasthan and Kolkata will further strengthen our presence.  We have also had tremendous success in West Asia and this is prompting us to enter new GCC markets, with a sizeable Indian population.

Qatar presence is critical for us to push the Gulf’s share of the group turnover to a 40% mark, which is our medium-term target. We are confident of reaching the Rs. 13,000 crore topline target set for this fiscal and also achieve the milestone of 100 showrooms.”

In this financial year, Kalyan has already launched 8 new showrooms. With these new additions, the company will have 80 showrooms in India and 20 showrooms in West Asia.