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Kalyan Jewellers India said it is planning to expand its retail footprint by over 30 percent in the next calendar year by adding 52 showrooms.
The expansion will mainly focus on the non-South region, which currently contributes 35 percent to the Indian business, the company said in a statement.
The expansion will be majorly fuelled by franchisees. The company operates on FOCO (Franchise Owned Company Operated) model. It plans to scale up existing operations in all the metros and is also looking to extend its geographical footprint in Tier II and III markets in the northern, eastern, and western regions.
On the global front, Kalyan Jewellers said it is witnessing positive demand momentum and buoyant customer sentiments in the Middle Eastern business which contributes around 17 percent to its consolidated revenue.
The company is looking at initiating a pilot franchise model in the region, post which a robust expansion plan will be laid out for its international operations, it said.
“We recorded an impressive trailing twelve months (TTM) revenue of approximately Rs 13,000 crores with a PAT of around Rs 425 crores as on September 30, 2022. The jewellery sector is shifting towards organised and more experiential retailing, and we continue to be well positioned to capitalise on this trend,” said Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers.
Source: https://www.indianretailer.com/news/kalyan-jewellers-aims-add-52-showrooms-2023