Kalyan Jewellers announces aggressive network expansion plans in India pre-Diwali
Aims to strengthen presence in non-South markets & leverage franchise arm.
Kalyan Jewellers, one of India’s largest jewellery companies, has announced plans to increase the brand’s retail footprint in India by another 8 per cent, before Diwali this year. This new lineup is planned in the non-South markets. The company will focus on scaling up operations within micro-markets of Tier-1 cities like Delhi and Mumbai, while aggressively expanding its presence in Tier-2 and Tier-3 markets.
Kalyan Jewellers will add ten outlets across key locations before the upcoming Diwali and wedding season. This includes three additional showrooms in Delhi NCR at Rajouri Gardens, Janakpuri, and Gurugram Gold Souk, three more in Uttar Pradesh by further strengthening presence in Lucknow with stores at Gomti Nagar and Lulu Mall, Golf City, and an outlet at Varanasi, the city of the Ganges. Two will be added to the Maharashtra tally with Ahmednagar & Dombivli (8th Showroom in Mumbai) and one each in Orissa and Chhattisgarh at Berhampur & Bilaspur respectively.
Kalyan Jewellers ventured into the Franchise model of business in June 2022, with the launch of its first-ever franchise-owned outlet in Aurangabad. The jewellery brand is confident that franchise operations will play a crucial role in enhancing the pace of expansion while making the process more capital efficient.
Kalyan Jewellers currently has 127 showrooms in India, of these 77 are in the South and 50 in the non-South regions. In the Middle East, the company has 31 outlets.
With the addition of these 10 showrooms pre-Diwali, the brand will be present across 168 locations.
The shares of Kalyan Jewellers have settled flat, closing 0.56 per cent higher in Monday's trading session.