Kalyan Jewellers to open 52 new showrooms in non-south regions next year.

Kalyan Jewellers plans to open 52 new showrooms in non-South market next year. The company has taken the franchise-owned-Kalyan operated model for its expansion in new markets.

The expansion plan would lead to an investment of ₹1,300 crore which will be largely borne by the franchise.

The non-South region currently contributes 35 per cent of the company’s India business. As per the existing model, both franchise and Kalyan Jewellers will work on gross margin basis while sharing expenses on pre-agreed terms.

After successful piloting the franchise model, Kalyan Jewellers had opened 14 showrooms so far this fiscal and will add another 12 more by end of this fiscal.

Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers told businessline that the company has set a target to achieve half its revenue from non-Southern market by 2025, but given the response from the new markets and planned expansion the set target should be achieved much ahead of the deadline.

HBL