Kalyan Jewellers to invest over 500 crore in network expansion in 2017
Kalyan Jewellers, India’s leading and trusted jewellery brand will continue to invest in enhancing its presence in the domestic and international markets in 2017. Kalyan Jewellers which launched 17 showrooms in 2016, plans to invest over 500 crore in 2017 towards its network expansion to open 15 new showrooms. The brand plans to foray into Central India and expand its presence in UAE and the Northern part of India. The company is also looking to augment its reach with investment in a digital foray and the relaunch of its purchase advance scheme, compliant with the prevailing regulations. Kalyan Jewellers will also launch new sub brands in gold, diamond and precious jewellery to cater new segments of customers.
Speaking about 2017’s expansion plans, Mr T.S. Kalyanaraman, Chairman and Managing Director of Kalyan Jewellers said, “We have gradually expanded our footprint in the North and East regions of the country during the last year. We have also had tremendous success in West Asia and Kalyan Jewellers has been well received after our recent foray in Qatar. The brand strategy of investing in sub-brands including Mudhra, Anokhi, Glo and our Arabic collection Ameera has worked well with the customers. We are committed to invest in growth capital including pursuing inorganic opportunities during 2017.”
Kalyan Jewellers caters to over 1.6 million customers globally, which includes a significant amount of repeat customers. In an effort to offer additional privileges to its loyal customers, the brand launched its membership programme ‘Kalyan Priority’ offering attractive returns to the customers. Kalyan Jewellers also signed with popular actress and fashionista Sonam Kapoor as one of the faces of the brand.