Kalyan Jewellers India is planning to increase its retail footprint by 13% in the first quarter itself. The company plans to enhance operations across seven states and will add 14 new showrooms, all on April 24, 2021.
While the brand has plans to scale up existing operations in the tier-1 cities, it will also focus on the tier-2 and tier-3 markets, with mid-size showrooms. In the tier-1 cities, it has plans to launch a total of five new outlets including a flagship showroom. Keeping in mind the overwhelming response the brand received in 2015 for its Chennai outlet, the company plans to open yet another flagship store in the very heart of Chennai’s shopping destination - North Usman road. The company will also be strengthening its presence in Delhi, Mumbai and Hyderabad, with a showroom each in Dwaraka, Matunga, Lower Parel Phoenix Palladium and Dilsukhnagar.
The company currently has 107 showrooms in India and 30 in the Middle East. With the addition of these new outlets, the company will be present in 151 locations -- a golden milestone for the brand. It recently raised Rs 1,175 crore through an IPO and most of its proceeds are earmarked towards enhancement of working capital. The brand will enhance its working capital by Rs 500 crore in the first quarter.
Kalyan Jewellers India designs and manufactures gold, diamonds, stones, and other precious metal jewelry products. The company serves customers worldwide.
| Company Name | CMP |
|---|---|
| Titan Co | 3357.65 |
| Kalyan Jewell.India | 719.25 |
| Rajesh Exports | 235.10 |
| Senco Gold | 1101.70 |
| Thangamayil Jeweller | 2031.55 |
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