Kalyan Jewellers, India’s single largest directly owned retail jewellery chain, is making a spectacular entry into the UAE market by opening six retail outlets on December 26, 2013 – all in a single day, according to a company statement.
The mega event witnessed all of its Brand Ambassadors, film celebrities including Amitabh Bachchan, Aishwarya Rai Bachchan, Nagarjuna, Prabhu, Shivaraj Kumar and Manju Warrier gracing the occasion. The company has outlined an investment of over Rs 250 crore (140 million dirham), the single biggest venture ever by an Indian company in the jewellery retail sector in the Emirates. Kalyan Jewellers will open showrooms in Abu Dhabi, Sharjabh, Karama, Qusais, Bur Dubai and Meena Bazar. Going forward, Kalyan Jewellers plans to expand across the region, opening three retail outlets in Kuwait, two outlets in Qatar and one each in Bahrain, Muscat and Oman.
Rajesh Kalyanaraman Executive Director, TS Kalyanaraman CMD and Ramesh Kalyanaraman Executive Director address the press conference at the Grand Hyatt Dubai.
Explaining the rationale for the mega venture, Kalyan Jewellers’ Chairman and Managing Director, TS Kalyanaraman said: “The basic research for the UAE expansion had been on for some time. “We felt that there was a huge scope in terms of market, availability of products and the customer base”.
Kalyan Jewellers has long changed the dynamics of the jewellery retailing in India with large format showrooms and higher inventory; a model which it intends to pursue in the UAE as well. All the showrooms in UAE will have an average space of 5,000 square feet, spread over two floors. Every showroom will have a dedicated diamond floor, again a first for the Emirates. In its inimitable style, Kalyan Jewellers will unleash an advertising blitz, covering virtually every mass medium.
Amitabh Bachchan, Prabhu, Aishwarya Rai, Manju Warrier and Nagarjuna.
From the Middle East operations, Kalyan is expecting a revenue of 200 million dirhams for the first three months, ending March 31, 2014. For the next fiscal, it is targeting a turnover 1500 million dirhams. The company is likely to close FY14 with an overall turnover of over Rs 8,500 crore ($ 1.4billion). Kalyan will open 20 more showrooms in India and 15 more abroad in the next financial year. Beyond its traditional markets of South India, Kalyan has made significant inroads into Maharashtra, Gujarat and key North Indian markets including Punjab, Haryana and Delhi over the past couple of years. Kalyan Jewellers was recently awarded the most coveted `The Best National Retail Chain 2013′ and `The Best Campaign of the Year 2013′ by the Bombay Bullion Association.
Kalyan Jewellers is the flagship of the prestigious 100-year old Kalyan Group with its origins in textile manufacturing and retailing. The group’s forayed into jewellery retailing two decades ago in 1993, and has retail store strength of 52 showrooms across the 4 southern states, Gujarat, Punjab and Maharashtra. Kalyan Jewellers is a clear market leader in most of the markets it operates. Kalyan Jewellers is in the midst of a major expansion spree and is poised to enter Gujarat and Maharashtra in 2013. The company has set an ambitious target of 100 showrooms by 2015.
Kalyan Jewellers has five sub brands for gold named Floret – Flower based designs, Tamas – Colour based designs, Bloom – Kids Jewellery, Rang – Precious stones jewellery and Eterna – Traditional Jewellery. We also got six sub brands for diamonds named – Anokhi – uncut diamonds, Sakshi – Diamond studded mangalsutra, Bliss – duo bands for couples , Amore – diamonds for youth, White Mistry – Platinum with diamonds and Antara – Bridal diamond wear.