Chennai, NFAPost: Kalyan Jewellers on Monday announced its plan for expansion in South India. The company has earmarked Rs 300 crores towards expansion in key markets across the five states. This is in line with the company’s strategy of investing in market penetration to touch 250 showrooms in five years.
Kalyan Jewellers plans to open eight showrooms across the Southern market, and the new launches will include two showrooms each in Andhra Pradesh, Tamil Nadu and Karnataka and one showroom each in Kerala and Telangana.
“In the past year, our focus was to expand our operations in the non-South geographies, and we forayed into 10 new markets. We entered Assam, Chhattisgarh, Jharkhand and also added showrooms in Maharashtra, Delhi, West Bengal, Uttar Pradesh and Madhya Pradesh. This year, South consolidation is a key focus. We see immense potential in the growing number of metros and mini metros here,” Kalyan Jewellers Chairman and Managing Director TS Kalyanaraman said.
He added, “We typically allot anywhere between Rs 30-45 crore for a showroom, and we will continue to deploy our larger format showroom strategy, as it is a proven success model. We will also announce our outside south expansion plan soon.”