Kalyan Jewellers India Limited one of India’s largest jewellery companies, announced plans to expand its retail footprint by over 30% through calendar year 2023 . As part of its strategic expansion plans, the company will look to target launching 52 showrooms over the next 52 weeks (12 months).
calendar year 2023 expansion will mainly focus on the non-South region, which currently contributes 35% to the India business. This approach is in line with Kalyan Jewellers’ Vision 2025, which targeted revenue contribution from non-South markets of 50%.
Following the successful completion of the pilot franchisee phase in CY22, the expansion plan for the Company will be majorly fueled by the franchisee arm. Kalyan Jewellers’ franchise model is based on a capital-efficient and return on capital accretive FOCO (Franchise Owned Company Operated) model.
Following the strong demand momentum in metro markets and renewed interest among millennial consumers, the Company plans to scale up existing operations in all the major metro cities. The Company will also lay strong emphasis on extending its geographical footprint in Tier-2 and Tier-3 markets in the North, East and Western region.
Mr. Ramesh Kalyanaraman, Executive Director – Kalyan Jewellers said, “The Company has recorded an impressive trailing twelve months (TTM) revenue of approximately Rs 13,000 crores with a PAT of Rs 425 crores (approx.) as on Sept 30th, 2022. Jewellery sector is shifting towards organized and more experiential retailing, and Kalyan Jewellers continues to be well positioned to capitalize on this trend.
