Kalyan Jewellers, single largest directly operated retail jewellery chain in the country announces the opening of its 52th outlet on 22nd September at Ludhiana. The showroom will be the biggest in town with a carpet area of over 12000 sq feet in 3 floors. Moreover, the company is looking to foray into UAE Market by opening seven outlets in a single day. Kalyan jewellers is targeting a turnover of Rs 16,000 crore by the end of March 2014. The company had achieved a turnover of Rs 9000 crore as on March 31, 2013. Currently, the company has 400 My Kalyan outlets.
Speaking on expansion, T S Kalyanaraman, chairman & managing director, Kalyan Jewellers said, “he company will have 66 showrooms by the end of the year. The number of showrooms within the country would touch 59 by the end of the year. Of this 11 showrooms will be in Kerala. In UAE, jewellery chain would open its outlet in centres like Karama, Gold Souk, Bur Dubai, Sharjah, Abu Dhabi etc. The company would invest Rs 1400 crore in the current year for its expansion in the domestic market and overseas market.”
Established in 1994, Kalyan Jewellers has a dominant presence in South India. It has made significant presence in the Maharashtra and Gujarat markets. The expansion will be in markets like Punjab, Haryana and Delhi