Kalyan Jewellers, a jewellery retail brand from Kerala, has announced a massive expansion drive of Rs 900 crore in this fiscal year. The expansion drive will include the opening of two new stores in Chennai, with brand ambassadors Bollywood diva Sonam Kapoor and South star Prabhu Ganesan inaugurating the stores.
As per the company’s official statement the two showrooms, to come up in Velacherry and Anna Nagar, would take the total number of outlets in city to five with total investments of Rs 430 crore till date. Kalyan Jewellers has been on an aggressive expansion drive and has earmarked Rs 900 crore this financial year for expanding its distribution network in India and globally.
The jewellery retailer from Kerala has already installed six showrooms across India this year and now it is targeting 14 showrooms by the end of this financial year. The two new showrooms in Chennai will be spread over 7,500 sq. ft. each and will have three floors. Kalyan Jewellers across Tamil Nadu has 20 large format showrooms and 150 mini diamond stores.
Speaking about the expansion, TS Kalyanraman, Chariman & MD, Kalyan Jewellers said that company will open showrooms in Anna Nagar and Velacherry to provide more accessibility to customers and strengthen its presence in Chennai. Chennai contributes nearly 10 per cent of company’s topline revenues and wit believes Kalyan has emerged as preferred jewellery brand given its relentless focus on quality, design and service.