April 01: Kalyan Jewellers has recently announced that the brand is planning new showrooms across the 7 states during the first quarter of the new financial year; all on April 24, 2021.
The company is huge plans to launch the majority of its latest showrooms in tier 2, 3 cities as the brand witnesses huge growth potential in these markets.
Sharing his take on the expansion plans, chairman of Kalyan Jewellers, TS Kalyanaraman quoted as saying in a statement, “During the first quarter we will be adding a total of 14 new outlets and expanding our retail presence by 13 per cent. Kalyan Jewellers has a sizeable presence across 21 states, and we are positive that we will be able to capitalise on the foundations that we have laid, and leverage our already established processes, purchase ecosystem system and market understanding to aid growth momentum.”
He added, “We have also put in place strict hygiene measures across all our showrooms, to ensure the safety of our customers.”
Currently, Kalyan Jewellers has a strong presence of 107 showrooms in India along with 30 in the Middle East. With the help of an IPO, the jewellery brand was able to raise Rs. 1,125 crore ($160 million).