Kalyan Jewellers marks expansion with over Rs.500 crore investment in 2017

Kalyan Jewellers is chalking an expansion plan, pertaining to its retail presence as well as its product offerings, as per reports. This involves opening new stores to the tune of 15 in 2017, with an investment of over Rs. 500 crore and in markets including central and northern India and the UAE, reports add. The company had in 2016 launched 17 showrooms.

The expansion basket also involves investing into its digital initiative, launching sub-brands within diamond, gold and precious jewellery segments to tap a new audience and re-launch its purchase advance scheme in tune with prevailing regulations, reports say.

Speaking about 2017’s expansion plans, Mr 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 includingMudhra, 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.”

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 emphatic 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.