Kalyan Jewellers' Ambitious Expansion: 170 New Stores on Horizon
Jewellery retailer Kalyan Jewellers plans to open 170 new showrooms via a franchise model, aiming to reduce debt liabilities. Domestic expansion targets non-south Indian markets, while international growth focuses on the UK, US, and the Middle East. Kalyan aims to alleviate its debt by Rs 300 crore this year.
- Country:
- India
Kalyan Jewellers, a leading jewellery retailer, has unveiled plans to open 170 new stores through a franchise model during the current fiscal year to manage its debt liabilities effectively, as stated by a company executive.
Currently, Kalyan Jewellers operates 406 showrooms across India and the Middle East. It is set to establish 90 Kalyan stores and 80 Candere lifestyle jewellery outlets in the 2025-26 fiscal. The retailer's domestic expansion will target non-south markets, leveraging a franchise model to optimize existing cash flow, a move expected to diminish the firm's debt burden by Rs 300 crore in addition to the Rs 400 crore reduction accomplished last year.
Overseas expansion prioritizes the UK, US, and Middle East markets, aligning with interest from Australia, Malaysia, and Singapore. Meanwhile, Kalyan plans to boost its manufacturing backbone by setting up a central hub in Thrissur. The company's debt strategy includes reducing Gold Metal Loan liabilities, further easing collateral commitments.
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