March 16, 2013: Kalyan Jewellers is surely going big. T.S.Kalyanaraman, Chairman, Kalyan Jewellers would be a happy man with his name figuring in the Forbes List of Top Billionaires of the world with net worth of Rs.5,400 crores. Kalyan Jewellers which is already the single largest company owned jewellery retail in India with 45 stores is planning for some major expansion and they are all set to launch 20 new showrooms. The jewellery chain is opening these new showrooms including five in the Middle East at a whopping investment of Rs.1,300 crore.
Kalyan Jewellers which has been aggressively opening showrooms in Gujarat one after another is now focusing on Mumbai. According to Mr. Kalyanaraman, “We are on track with our expansion plans that will help us become a national player, and Mumbai is a major milestone in that journey. With this expansion, we are hoping for a turnover of Rs 13,000 crore in 2013-2014”.
The company which made a single maximum bullion purchase of 5 tons from State Bank of India psoted a revenue of Rs.7,500 crore in financial year 2012. Kalyan Jewellers which recently signed Amitabh Bachchan and Aishwarya Rai as brand ambassador is planning for 80 more outlets across Tier I and II cities in India, Singapore, Sri Lanka etc.