Kalyan Jewellers to open 10 new stores before Diwali
Kalyan Jewellers plans to open 10 new brick-and-mortar stores before Diwali and invest around Rs 250 crore to Rs 300 crore as it aims to continue to expand out of South India and into the rest of India.
“This expansion is in line with our Vision-2025, where we hope to increase the revenue contribution from our non-south markets, which is now at approximately 35%,” said Kalyan Jewellers’ executive director Ramesh Kalyanaraman, the Press Trust of India reported. “We are planning to add 10 more stores, five each company-owned and franchise model, in non-south markets.”
The store openings will comprise three in Delhi/NCR, three in Uttar Pradesh, two in Maharashtra, and one each in Odisha and Chhattisgarh, according to Kalyanaraman. Kalyan Jewellers opened a franchise-owned store in June this year in Aurangabad, Maharashtra and has signed five letters of intent to have more stores opened.
Kalyan Jewellers will expand its employee base as it adds the 10 new stores with over 500 new employees. “The addition of the new workforce will include not only the showrooms but also ‘My Kalyan’ which will be around the stores,” said Kalyanaraman. The brand’s My Kalyan service is a customer outreach programme which offers shoppers advance purchase schemes, gold insurance, and jewellery maintenance among other things.
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