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Kalyan Jewellers to invest over Rs 500 crore in network expansion in 2017

Kalyan Jewellers to invest over Rs 500 crore in network expansion in 2017

Author | exchange4media News Service | Friday, Jan 06,2017 9:17 AM

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Kalyan Jewellers to invest over Rs 500 crore in network expansion in 2017

Kalyan Jewellers will continue to invest in enhancing its presence in the domestic and international markets in 2017. Kalyan Jewellers, which launched 17 showrooms in 2016, plans to invest over Rs 500 crore in 2017 towards its network expansion to open 15 new showrooms. The brand plans to foray into Central India and expand its presence in UAE and the Northern part of India. The company is also looking to augment its reach with investment in a digital foray and the relaunch of its purchase advance scheme, compliant with the prevailing regulations. Kalyan Jewellers will also launch new sub brands in gold, diamond and precious jewellery to cater new segments of customers. 

In 2016, Kalyan Jewellers’ foray into Kolkata with three showrooms also marked the 100th store milestone for the brand. Apart from Kolkata, Kalyan Jewellers made an entry into Rajasthan with showrooms in Jaipur, Udaipur and Jodhpur. The company further enhanced its presence in the states of Tamil Nadu and Kerala.

The Middle East is another market that the brand concentrated on, with the launch of seven new showrooms in Qatar on the same day and one each in Dubai and Kuwait a few months later. It already has a sizeable presence in UAE and Kuwait including a manufacturing facility in the Sharjah free trade zone, which currently processes 150 to 200 kg of jewellery. 

Speaking about 2017’s expansion plans, T.S. Kalyanaraman, Chairman and Managing Director of Kalyan Jewellers, said, “We have gradually expanded our footprint in the North and East regions of the country during the last year. We have also had tremendous success in West Asia and Kalyan Jewellers has been well received after our recent foray in Qatar. The brand strategy of investing in sub-brands including Mudhra, Anokhi, Glo and our Arabic collection Ameera has worked well with the customers. We are committed to invest in growth capital including pursuing inorganic opportunities during 2017.”

Kalyan Jewellers caters to over 1.6 million customers globally, which includes a significant amount of repeat customers. In an effort to offer additional privileges to its loyal customers, the brand launched its membership programme ‘Kalyan Priority’ offering attractive returns to customers. Kalyan Jewellers also signed Sonam Kapoor as one of the brand’s endorsers.

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