Published
Jun 26, 2019
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Kalyan Jewellers to expand presence in South India

Published
Jun 26, 2019

Kalyan Jewellers is looking to expand its retail footprint in the southern states of India and plans to open eight new showrooms this year.
 

Kalyan Jewellers to expand presence in South India - Kalyan Jewellers - Twitter


The company will open two stores each in states like Tamil Nadu, Andhra Pradesh, Karnataka, and one each in Telengana, and Kerala.
 
Kalyan Jewellers has earmarked an investment of Rs 300 crore ($43.3 million) for its expansion. Each store will see an investment of around Rs 30 to 45 crore.

“The expansion is in line with the company’s strategy to more than double the number of showrooms to nearly 250 in the next five years from the present 137 globally, including 103 in India. In the past year, the company’s focus was to expand operations in non-south geographies and forayed into 10 new markets, including Assam, Chhattisgarh, and Jharkhand. This year, the focus is to consolidate in the South,” TS Kalyanaraman, managing director at Kalyan Jewellers, told Businessline.
 
Ramesh Kalyanaraman, executive director at Kalyan Jewellers added, “The funding for the expansion would be through a combination of internal accruals and bank loans. Investment in each showroom is Rs 30-45 crore.
 
Kalyan Jewellers has been expanding its retail presence across the country with an aim to reach 25,000 crore within the next five years. It plans to add 20 to 25 stores every year to take its store count to 250 by 2023.

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