Kalyan Jewellers plans to spend Rs 300 crore for expanding in South India

Retail brand Kalyan Jewellers plans to spend Rs 300 crore to add 8 new showrooms across five states in South India. The brand will be opening these showrooms across the southern market, including two each in Andhra Pradesh, Tamil Nadu and Karnataka and one showroom each in Kerala and Telangana.

This expansion is in line with the company's strategy to invest in market penetration for touching 250 showrooms in five years. 

TS Kalyanaraman, Chairman and Managing Director, Kalyan Jewellers, said, "Last year our focus was to expand our operations in the non-south geographies, and we forayed into 10 new markets. We entered Assam, Chhattisgarh, Jharkhand and also added showrooms in Maharashtra, Delhi, West Bengal, Uttar Pradesh and Madhya Pradesh. This year, we are aiming for consolidation in the south and have earmarked Rs 300 for the purpose."

"The company sees huge potential in the growing number of metros and mini metros in the southern region. We usually allot Rs 30-45 crore for a showroom, and we will continue to deploy our larger format showroom strategy, as it is a proven success model," he added.