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Kalyan Jewellers to open first US store by Diwali
Kalyan Jewellers aims to enhance market presence and boost growth through extensive domestic and international expansion.
Kalyan Jewelers to expand business in the US this upcoming Diwali / Image - Facebook/ Kalyan Jewelers
Kalyan Jewellers, a leading name in the retail jewelry sector, has announced plans to enter the US market with its first showroom set to open by Diwali this year.
This move is part of a broader expansion strategy that includes launching 40 new Kalyan showrooms in India along with 30 Candere showrooms, Candere being a wholly-owned subsidiary of Kalyan Jewellers. Together with Candere, Kalyan Jewellers currently operates 277 showrooms in India and the Middle East.
The Kerala-based jeweler has been actively expanding its footprint, having launched 13 Franchisee-Owned-Company-Operated (FOCO) showrooms in India during the recently concluded quarter. This brings the total number of Kalyan Jewellers showrooms in India to 217, with an additional 36 in the Middle East and 24 under the Candere brand.
In its quarterly update report, the brand reported a robust overall revenue growth of approximately 27 percent year-over-year (YoY) for Q1 FY2025. The revenue growth for India operations was notably higher at 29 percent, driven by strong on-ground operating momentum and a healthy same-store sales growth of approximately 12 percent.
The Middle East operations also saw a significant revenue growth of 16 percent YoY, despite the challenges posed by extreme volatility in gold prices and a strong base quarter from the previous year.
Looking ahead, Kalyan Jewellers is gearing up for the festive and wedding season with fresh collections and campaigns, starting with Onam towards the end of the current quarter. The company plans to launch a total of 130+ new showrooms during the current financial year, in addition to those already opened.
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