Kalyan Jewellers unveils fourth store in Mumbai

Kalyan Jewellers announced the launch of its fourth store at Ghatkopar East, Mumbai as part of the company's Rs 800 crore domestic expansion plan.  Kalyan Jewellers is aggressively ramping up its domestic as well as its international presence. In India, the company is planning to launch 16 new stores to increase its presence to over 70 stores from 55 stores across the country - with a primary focus on the western and northern markets of the country.  Besides Mumbai, Kalyan Jewellers is enhancing its presence in the National Capital Region and planning a foray into new markets with Jalandhar in North India and Bhubaneswar in the East.

Speaking about the launch of the new store, T S Kalyanaraman, Chairman and MD, Kalyan Jewellers, said, "Our new store has been launched in keeping with the positive response received from our customers in Mumbai for pure gold. We will continue to provide customers an assortment of exquisite and unique designs -- to suit the individual preferences of jewellery connoisseurs. Mumbai is one of the largest markets in the country for jewellery. We hope to have our largest metro presence in Mumbai. The store has been created in close partnership with designers and stylists to enable customers to have a great shopping experience. There is a lot of latent demand for jewellery. The softening of gold prices is further expected to boost demand. We believe that we have set in motion a path for rapid growth through these store expansions, as we target to achieve revenues of Rs 25,000 crores.”

The company had made a foray into the Mumbai market by simultaneously launching three stores in Mumbai which are located at Thane, Navi Mumbai and Borivali in March 2013. The company also operates 16 service centres in Mumbai under the'My Kalyan' name to educate and facilitate gold buying.

Kalyan Jewellers presently has 61 stores spread across India and the Middle East.  With the new store additions, Kalyan will have 89 stores by the end of year 2015. The brand recently attracted a significant investment of Rs 1,200 crores from private equity investor Warburg Pincus. The investment will accelerate the growth plans of Kalyan Jewellers as it consolidates its leading position in the existing markets and forays into global markets including Singapore and Malaysia. Kalyan is already present in the UAE with nine stores and plans to expand into Kuwait and Qatar. 

The new store at Ghatkopar East, Mumbai was inaugurated by former Miss World and Bollywood actress Aishwarya Rai Bachchan.