Kalyan Jewellers opens 4th store in Mumbai Region
Kalyan Jewellers, one of India’s leading trusted jewellery Brands announced a new store in Mumbai as part of the company’s ` 800 crore domestic expansion plan. The store will be located at Jawahar Road, Ghatkopar East and will be the fourth store in the Mumbai region. The store was inaugurated on November 8 by Ms. Aishwarya Rai Bachchan. The company had made a foray into the Mumbai market by simultaneously launching three stores in Mumbai in March 2013 – in Thane, Navi Mumbai and Borivli. The company also operates 16 service centres in Mumbai under the ‘My Kalyan’ name to educate and facilitate gold buying.
Kalyan Jewellers is aggressively ramping up its domestic as well as its international presence. In India, the company is launching 16 new stores to increase its presence to over 70 stores from 55 stores across the country – with a primary focus on the western and northern markets of the country. Apart from Mumbai, Kalyan Jewellers is enhancing its presence in the National Capital Region and planning a foray into new markets with Jalandhar in North India and Bhubaneswar in the East.
Mr. T S Kalyanaraman, Chairman and Managing Director, Kalyan Jewellers, said, “Our new store has been launched in keeping with the positive response received from our customers in Mumbai for pure gold. We will continue to provide customers an assortment of exquisite and unique designs — to suit the individual preferences of jewellery connoisseurs. Mumbai is one of the largest markets in the country for jewellery. We hope to have our largest metro presence in Mumbai. The store has been curated in close partnership with designers and stylists to enable customers to have a great shopping experience. There is a lot of latent demand for jewellery. The softening of gold prices is further expected to boost demand. We believe that we have set in motion a path to rapid growth through these store expansions, as we target to achieve revenues of `25,000 crores.”
Kalyan Jewellers presently has 61 stores spread across India and the Middle East. With the new store additions, Kalyan will have 89 stores by the end of year 2015. Kalyan Jewellers recently attracted a significant investment of `1,200 crores from private equity investor Warburg Pincus. The investment will accelerate the growth plans of Kalyan Jewellers as it consolidates its leading position in the existing markets and forays into global markets including Singapore and Malaysia. Kalyan is already present in the UAE with nine stores and plans to expand into Kuwait and Qatar. Kalyan Jewellers has set industry level standards on customer experience, innovations and transparent pricing.