Kalyan Jewellers eyes 30% topline growth to Rs 13,000 crore; plans expansion

MUMBAI: Kalyan Jewellers, which was recently in the eye of the storm with its racist ad featuring brand ambassador Aishwarya Rai Bachchan, has recovered quickly from the controversy and is going full throttle with its expansion plans.

While eyeing a growth of 30 per cent in its topline to Rs 13,000 crore, the company is also looking at enhancing the distribution network by 30 per cent in the year.

The jewellery maker is looking to expand its operations with an investment of Rs 175 crores. As a first step, the company has opened four new outlets across India with its first showroom launch in Bhubaneswar, Odisha, followed by two showrooms in Gurgaon and Noida. With the two new showrooms in Gurgaon and Noida, Kalyan Jewellers will now have a total of five exclusive showrooms in the NCR region and a total of nine showrooms in North India including Jalandhar and Amritsar.

Kalyan Jewellers, which has been present in the UAE since 2013, is also strengthening its presence by adding a new showroom, marking the tenth for the company in the UAE. Continuing on this aggressive expansion drive, Kalyan Jewellers is planning to set up 22 showrooms this fiscal year, of which nine will be in the Gulf region. Plans are also afoot to launch six showrooms in Qatar.

The company, which has a network of 79 exclusive showrooms in India and West Asia, is targeting 100 showrooms by the end of the year.

Kalyan Jewellers is also in the process of converting its 570 customer service centres into mini 'My Kalyan' stores, which will focus on selling affordable diamonds to capitalise on the potential of this category.

Kalyan Jewellers chairman and managing director T.S. Kalyanaraman said, “Jewellery consumption in the Indian market is increasing due to positive consumer sentiment and stable prices, and we want to tap into this growth. Funding of the expansion plans will be met through the funds we have received from the private equity investment as well as from internal accruals and bank borrowings. We are targeting 30 per cent growth in topline to Rs 13,000 crore and enhancing the distribution network by 30 per cent in the year. We are also ramping up our manufacturing operations and plan to have India's biggest production house by 2017.”

The company recently also launched a gold and diamond jewellery collection at its Chennai store with an investment of Rs 200 crores, making it was the single largest investment by any jeweller in a single showroom across the country.

Latest Reads
Yardley launches new range of floral perfumes

MUMBAI: Yardley, a heritage personal care brand from Wipro Consumer Care and Lighting has launched an array of daily wear perfumes. The Modern Indian Woman, who is a perfect amalgamation of beauty, confidence, and elegance, inspires this contemporary range of Eau De Cologne from The House of...

MAM Marketing Brands
Kotak Mahindra Bank launches campaign with Ranveer Singh for 811 account

MUMBAI: Kotak Mahindra Bank has launched its 811 campaign - #IndiaInvited. The campaign features Bollywood actor Ranveer Singh along with people from all walks of life, across age, gender, profession, religion, physical appearance, including an acid attack survivor, among others.

MAM Media and Advertising Ad Campaigns
Need for condom brands to target the rural audience

MUMBAI: Sex is perhaps the most rampant taboo in India. Despite the economic and technological advancements, sexual discourse in the country is yet to witness a significant evolution. From sex education in school to conversations at home, the country in a sense continues to avoid addressing the...

MAM Marketing Brands
MediaCom wins Media Network of the Year at Cannes Lions 2018

MUMBAI: MediaCom has been named Media Network of the year at the 2018 Cannes Lions Festival.

MAM Media and Advertising AD Agencies
Intel CEO Brian Krzanich resigns over relationship with employee

Intel Corporation CEO and member of board of directors Brian Krzanich today announced his resignation for a breach of company policy involving a relationship with an employee.

MAM Media and Advertising People
Louis Philippe launches new ad campaign #RiseAboveTheRest

One of India’s leading menswear brand Louis Philippe, from Aditya Birla Fashion and Retail, has come up with a unique ad campaign 'Rise Above The Rest', showcasing that true leadership is about taking decisions that leave a lasting impact.

MAM Media and Advertising Ad Campaigns
Taco Bell wants to make potato great again with new campaign

MUMBAI: Taco Bell is set to make its way into the hearts of potato lovers across India. The brand has just launched a unique potato centric take on the traditional taco. The all new Crispy Potaco will give this much-loved vegetable a new identity where it will no longer play the sidekick in most...

MAM Marketing Brands
HP urges people to use original ink in new campaign

MUMBAI: Information technology company HP (Hewlett-Packard) has launched a digital film Chikloo, as a part of the on-going initiative to promote its original ink and cartridges.

MAM Media and Advertising Ad Campaigns
Oyo expands footprint in China

MUMBAI: Indian budget hotel company Oyo Rooms has forayed into China to cater to the country’s burgeoning hospitality industry. Oyo Rooms. The Softbank-backed Oyo in China will have 11,000 exclusive-franchise or merchandised rooms across 26 cities. The service will be available in Xiamen, Kunming,...

MAM Marketing Brands

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories