Kalyan Jewellers has unveiled ambitious expansion plans for both domestic and international markets. The Kerala-based jewellery giant aims to launch 40 new Kalyan showrooms, alongside 30 Candere showrooms and its inaugural showroom in the United States by Diwali this year. This initiative is part of their strategy to introduce over 130 new showrooms during the current fiscal year, building upon their existing network.
The company reported a robust 34% revenue growth in Q4 FY2024, setting a strong foundation for future expansions. Looking forward to FY 2025, Kalyan Jewellers plans to introduce 130 new showrooms across India, reflecting their bullish outlook on market demand.
Preparations are underway for the upcoming festive and wedding seasons, starting with Onam later this quarter. Fresh collections and promotional campaigns are being readied to complement the new showroom launches nationwide. Candere, Kalyan Jewellers’ digital-first jewellery platform, will play a pivotal role in this expansion, enhancing their reach and customer engagement.
By the first quarter of FY2025, Kalyan Jewellers had already opened 24 new showrooms, contributing to their global footprint of 277 showrooms. Of these, 217 are located in India, 36 in the Middle East, and 24 under the Candere brand.
In their latest financial update, Kalyan Jewellers reported a consolidated revenue growth of approximately 27% in Q1 FY2025 compared to the same period last fiscal year. The company also noted a 16% revenue increase in their Middle East operations during the first quarter of the current fiscal year, underscoring their successful expansion efforts across different markets.
