Daijiworld Media Network – Thrissur
Thrissur, Aug 3: Kalyan Jewellers is gearing up for a major expansion this fiscal with plans to open 170 new showrooms in India and abroad through a franchise model, a move aimed at strengthening its market presence while reducing its debt.
As of June 30, 2025, the jeweller operated 406 outlets globally—287 in India, 36 in the Middle East, 2 in the US, and 81 under its lifestyle jewellery brand Candere. “In 2025-26, we plan to add 170 new stores—90 under Kalyan and 80 for Candere. Of these, seven will be international stores in the UK, US, and Middle East,” said Executive Director Ramesh Kalyanaraman.
The expansion will mainly target non-southern Indian markets across tier I to IV cities. Since the franchise model requires minimal capital investment, the company plans to utilise surplus cash to pare down its debt.
“Last year we reduced our debt by Rs 400 cr. This year, we aim to reduce it by another Rs 300 crore, mainly targeting our Gold Metal Loan liabilities. Lowering our debt will help release mortgaged land parcels and lighten our balance sheet,” Kalyanaraman explained.
The company has earmarked Rs 350-400 cr as capex for maintenance and inventory for the current financial year, as it doesn’t need to invest in franchise stores.
On Candere’s growth, Kalyanaraman said the focus remains on domestic expansion, with an international foray in Dubai expected in the next quarter. A wider overseas push is expected post-2027.
Kalyan will also make its entry into the UK market this fiscal, while cautiously eyeing Australia, Malaysia, and Singapore for future expansion due to strong Indian diaspora presence.
While the brand is primarily focused on retail, plans are in place to set up a contract manufacturing hub in Thrissur to streamline backend operations. “We’ve acquired land and aim to bring our 1,000+ contract manufacturers under one roof by the end of this fiscal,” he said.
With same-store sales posting consistent double-digit growth for the past 8-9 quarters and a favourable monsoon boosting consumer sentiment, the company expects further gains in market share—currently at 8-9% in the organised jewellery sector.
Kalyan Jewellers reported consolidated revenue of Rs 5,557.63 cr in the first quarter of 2025-26 and anticipates another strong year ahead.