Kalyan Jewellers to open stores across India to strengthen foothold
Kalyan Jewellers will be opening 8 stores across India in the coming weeks to strengthen its position in the jewellery market as part of its silver jubilee celebrations in the country.
With the expansion, Kalyan is looking to expand its consumer base by entering new markets and will open stores in cities like Raipur, Indore, Delhi NCR and Kanpur.
The company will open its 125th showroom in the city of Nagpur at Abhayankar Nagar which will be inaugurated by its Brand Ambassador Katrina Kaif.
Kalyan Jewellers has planned massive expansion in India and overseas markets earmarking Rs 1000 crore (approx $145.3 million) for the opening of 20 exclusive stores during the financial year.
Kalyan Jewellers Chairman and Managing Director T S Kalyanaraman in a statement said, “After operating in Mumbai and Pune for the past few years, we have come to realise that the State of Maharashtra has tremendous potential and Nagpur is one of the top growth markets.”
“The investment in Nagpur is part of our strategy to establish a strong presence in the Western region of the country and also to double our retail presence in the country over the next two years,” he added.
Kalyan Jewellers is one of the country’s top jewellery firms with 90 stores in India and 32 in the Middle East countries like Kuwait, Qatar, Oman and the UAE. The company is expected to open its 100th Indian showroom in August.
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