Kalyan Jewellers to add 10 outlets before Diwali in non-south markets with capex of Rs 250-300 crore

Mumbai : Jewellery retailer Kalyan Jewellers on Monday said it is planning to strengthen its retail footprints in the non-south market by adding 10 showrooms before Diwali, with an investment of around Rs 250-300 crore.

"This expansion is in line with our Vision-2025, where we hope to increase the revenue contribution from our non-south markets, which is now at approximately 35 per cent. We are planning to add 10 more stores, five each company-owned and franchise model, in non-south markets, including three in Delhi/NCR, three in Uttar Pradesh, two in Maharashtra, one each in Odisha and Chhattisgarh," Kalyan Jewellers India executive director Ramesh Kalyanaraman told PTI.

Kalyan Jewellers had ventured into the franchise model of business in June 2022, with the launch of its first franchise-owned outlet in Aurangabad in Maharashtra.

For this expansion, the company has outlined a capex of around Rs 250-300 crore, which will be raised through internal accruals, he added.

"We have signed five letters of intent for opening franchise stores," he said.

Currently, Kalyan Jewellers has around 32 stores and after the addition of these 10 showrooms it will go up to 44, he said.

Of the overall 127 stores spread across India, Kalyan Jewellers have 77 in the south and 50 in the non-south regions.

The company has 31 outlets in the Middle East.

With this expansion, Kalyan Jewellers will also add over 500 employees to its current 8,000 workforce, Kalyanaraman said.

"The addition of the new workforce will include not only the showrooms but also 'My Kalyan', which will be around the stores," he explained.

'My Kalyan' network is a customer outreach programme of the company which provides customers with services such as advance booking for wedding purchases, advance purchase schemes, gold insurance, free maintenance of jewellery and gift vouchers, among others.

On average, each showroom is supported by 6-7 'My Kalyan' service centers.