Kalyan Jewellers, which recently raised Rs 1,175 crore through initial public offering (IPO), today announced that it will increase its retail footprint by 13 per cent in the first quarter of this year by adding 14 new showrooms on April 24, 2021.
Kalyan Jewellers currently has 107 showrooms in India and 30 in the Middle East. With the addition of these new outlets, the company will be present in 151 locations.
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While the brand has plans to scale up existing operations in tier-1 cities, it will also focus on tier-2 and tier-3 markets with mid-size showrooms, the company said on Monday.
In tier-1 cities, Kalyan Jewellers plans to launch a total of five new outlets, including a flagship showroom. Keeping in mind the overwhelming response the brand received in 2015 for its Chennai outlet, it plans to open yet another flagship store soon at the heart of Chennai's shopping destination, North Usman road. The company will also strengthen its presence in Delhi, Mumbai and Hyderabad.
Kalyan Jewellers will also add nine showrooms across Noida (Uttar Pradesh), Nashik (Maharashtra), Jamnagar (Gujarat), Pathanamthitta(Kerala), Nagercoil, Madurai and Trichy (Tamil Nadu) and Khammam as well as Karimnagar (Telangana). These new standalone showrooms will offer a safe and hygienic shopping environment, and will retail market specific hyper-local jewellery designs, Kalyan Jewellers said.
"Kalyan Jewellers has a sizable presence across 21 states, and we are positive that we will be able to capitalise on the foundations that we have laid, and leverage our already established processes, purchase ecosystem and market understanding to aid growth momentum. We have also put in place strict hygiene measures across all our showrooms, to ensure the safety of our customers," Kalyan Jewellers Chairman and Managing Director T S Kalyanaraman said.