The showroom will be inaugurated on April 17 by the Kalyan brand ambassadors including Mr. Amitabh Bachchan, Ms. Aishwarya Rai Bachchan, Mr. Prabhu Ganesan, Mr. Nagarjuna Akkineni, Mr. Shivaraj Kumar, Ms. Manju Warrier and Mr. Vikram Prabhu. With the launch of the Chennai showroom, Tamil Nadu will be one of the largest markets, outside of Kerala, for Kalyan Jewellers with a cumulative investment of Rs. 600 crore across 16 showrooms in the state. The company will open four more showrooms, with 15,000 sq. feet each, in Chrompet, Adyar, Vellacherry and Anna Nagar, of which two will be during the course of this financial year and two in the early part of next year. A total of Rs.300 crore will be invested in these four showrooms.
T.S.Kalyanaraman, Chairman & Managing Director of Kalyan Jewellers said, “This is a golden moment as the Chennai showroom is the 50th for the company in the South. We wanted to ensure that we made an emphatic entry into Chennai and offer a superior value proposition, in terms of quality, design, service and make it a unique and memorable shopping experience for jewellery connoisseurs. We had to work on optimizing our supply chain efficiencies to ensure that we provide a differentiated and compelling proposition. As a brand, we are known for bringing transparency and trust into the business of jewellery and we will do the same here in Chennai.’’
Kalyan Jewellers has been aggressively expanding its distribution network after the recent equity infusion of Rs. 1,200 crore by Warburg Pincus. The company has been consolidating its national presence and expanding in West Asia. “We are investing Rs. 800 crore in the next fiscal to open 22 showrooms in India and West Asia. We are targeting 30% growth in topline to Rs. 13,000 crore and enhancing the distribution network by 30% in the year. The company is also in the process of converting its 570 çustomer service centres into mini ‘’My Kalyan’’ stores which will focus on selling affordable diamonds to capitalise on the potential of this category. We are also ramping up our manufacturing operations and plan to have India’s biggest production house by 2017,” said Rajesh Kalyanaraman, Executive Director.