Kalyan Jewellers to open 11 new stores in August, taking total count to 200
Kalyan Jewellers on Thursday announced that it will launch 11 new stores across the country in August expanding its footprint across destinations while India is seeing an increased shift towards organised jewellery market. With this expansion, the jewellery brand will mark the milestone of its 200th showroom launch globally.
The upcoming showrooms will be launched in Patna, Nawada, Sitamarhi, and Arrah in Bihar, Faridabad and Panipat in Haryana, Anand in Gujarat, Dehradun in Uttarakhand, Jabalpur in Madhya Pradesh, and Chembur in Mumbai. With one of the stores opening in Jammu, the jewellery brand aims to further explore the untapped potential of Tier-2 and Tier-3 markets.
“As we chart the next phase of growth, we aim to explore the untapped potential of Tier-2 and Tier-3 markets, with our unique brand proposition of a service-backed shopping experience and distinctive design philosophy,” says T S Kalyanaraman, Managing Director of Kalyan Jewellers. Kalyan Jewellers is present across 22 states and union territories in India as well as 4 countries in the Middle East.
Currently, the company has 76 showrooms in South India, 48 showrooms in North and Central India, 23 in West India, 16 outlets in East India, and 33 in the Middle East. The company is all set to expand its operations across key non-South markets.
Most organised jewellery retailers are likely to expand their retail network by 18-20% YoY in FY2024, continuing the momentum which began in FY2023, to capitalise on industry tailwinds. The organised jewellery retailers in India will continue to outpace the industry in FY2024, aided by planned store additions, said ICRA earlier.
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