India’s largest jewellery retail chain Kalyan Jewellers, is gearing up to enter the competitive Mumbai market next week. But instead of choosing zaveri bazaar or upmarket Bandra, the Kerala-based jeweller is instead opening three showrooms in the suburbs and that could prove to be a golden opportunity for Kalyan Jewellers.
Thrissur-based retail jewellery chain, Kalyan Jewellers, is foraying into Mumbai with three showrooms that will open their doors on the same day 24th March. This move is part of the 2-decade old company’s national expansion drive, which kickstarted with Gujarat in 2012.
In Mumbai, the company will open 3, 15,000 square feet showrooms in the suburbs at Thane, Vashi and Borivali. Each showroom will adopt the hypermarket format and will see a considerable investment of Rs 60-75 crores each.1
Kalyan Jewellers will meet up to 35 percent of their apex needs through internal accruals, with the rest being sourced from banks. Overall, the company plans to add 20 showrooms in India and overseas in FY14, with an investment of 1,500 crores.