TS Kalyanaraman, Chairman and Managing Director of Kalyan Jewellers and Kalyan Developers
Kochi: Kalyan Jewellers India Limited announced plans to expand its retail footprint by over 30% in 2023. As part of its strategic expansion plans, the company will look to target launching 52 showrooms within the next 52 weeks.
The expansion will mainly focus on the non-South region, which currently contributes 35% to the Indian business. This approach is in line with Kalyan Jewellers’ Vision 2025, which targeted revenue contribution from non-South markets of 50%.
The Company plans to scale up existing operations in all the major metro cities also. The Company will also lay strong emphasis on extending its geographical footprint in Tier-2 and Tier-3 markets in the North, East and Western region.
Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers, said, “The Company has recorded an impressive trailing twelve months (TTM) revenue of approximately Rs 13,000 crores with a PAT of Rs 425 crores (approx.) as of Sept 30th, 2022. The jewellery sector is shifting towards organized and more experiential retailing, and Kalyan Jewellers continues to be well-positioned to capitalize on this trend.”