Kalyan Jewellers aims to clock Rs 25,000 revenue by 2023
today Dec 24, 2018
Kalyan Jewellers, one of the leading jewellery chains in the country, is looking to expand its retail presence across the country with an aim to reach 25,000 crore (approx $3.56 billion) within the next five years.
The company will strengthen its retail presence in India especially in the North and the North East with the addition of 20 to 25 stores every year to take its store count to 250 by 2023.
Kalyan Jewellers is expecting a 10 percent jump in its revenue to Rs 11,500 (approx $1.59 billion) for this financial year.
“Kalyan is growing at an average of 8-10 percent every year and the company's turnover is targeted to reach Rs 25,000 crore from the current Rs 10,500 crore within the next five years. Thrust will be on tapping the huge potential in India, especially in the North and the North East," company's executive director Ramesh Kalyanaraman told Business Today.
“On an average, we spend about Rs 30-40 crore on a new showroom, and this will be higher in metros or cities having flagship and large showrooms, which will require Rs 100-Rs 200 crore each. Most of our showrooms now generate average revenue of Rs 100 crore a year and break-even happens within 6-8 months since we are investing a lot on brand creation and promotion," added Kalyanaraman.
Kalyan is one of the country’s top jewellery firms with over 102 stores in India and 32 in the Middle East countries like Kuwait, Qatar, Oman, and the UAE.
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