Having already strengthen its presence in Southern and Western region, now Thrissur-based Kalyan Jewellers is planning to expand in the Northern region. The company will open its maiden outlet in Mohali in Punjab by this month followed by Ludhiana and Amritsar. Besides Punjab, it will also open three outlets in Delhi by the end of this year.
Speaking to Business Standard, T S Kalyanaraman, Chairman, Kalyan Jewellers said, “ Our first store in Mohali would be operational by this month. We are planning to open two more stores in Punjab at Ludhiana and Amritsar by this year. We also have plans to open atleast three stores in Delhi by the end of the current fiscal year.”
Currently, the company has 51 stores across 4 southern states, Gujarat and Maharastra. It is worth mentioning that in FY 2012-13 a total of 15 Showrooms opened with an investment of Rs. 1000 crores. This also saw Kalyan move from its traditional South India markets to Gujarat and Mumbai.
In the current fiscal year, the company has plans to add 15 more stores. Besides India, it has plans to open 7 stores in UAE. The opening of stores in UAE would be the company’s first foray into overseas market. For expansion, branding and marketing, the company has made a budgetery provision of Rs. 1300 crore in the current fiscal.
On being asked about the projected turnover for the current fiscal, he added, “ Our business is undeterred by slowdown, we are expecting to touch Rs. 13000 crore as turnover by the end of current fiscal compared to Rs. 10,000 crore in the last fiscal.”
He further added that the company has major expansion plans and aiming to become a global player by 2015 with over 100 showrooms. . The company plans to open 80 more showrooms in the next three years in Tier 1 & 2 cities across India, Middle East, GCC Countries, Singapore, Malaysia and Sri Lanka.
It is pertinent to mention here that The Chairman, Kalyan Jewellers, T.S. Kalyanaraman has been featured on the Forbes List of Billionaires - 52 in India and 1342 globally.
Kalyan Jewellers is the flagship of the prestigious 100-year old Kalyan Group with its origins in textile manufacturing and retailing. The group’s forayed into jewellery retailing two decades ago in 1993, and has retail store strength of 51 showrooms across the 4 southern states Maharashtra and Gujarat. Kalyan Jewellers is a clear market leader in most of the markets it operates
