- 09 Dec 2022
- ICICIdirect Research
KALYAN JEWELLERS PLANS TO AGGRESSIVELY EXPAND RETAIL FOOTPRINT
KALYANKJIL - 562 Change: 2.25 (0.40 %)News:
Kalyan Jewellers India has announced plans to expand its retail footprint by over 30% through CY23. As part of its strategic expansion plans, the company will look to target launching 52 showrooms over the next one year
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Kalyan Jewellers is looking to expand its presence in the non south region and is looking to increase non-south revenue share from 35% currently to 50% by FY25. Further, the company is planning the store expansion to be mainly done through the franchise route. Following the strong demand momentum in metro markets and renewed interest among millennial consumers, the company plans to scale up existing operations in all major metro cities. The company is also looking to expand its geographical footprint in Tier-2 and Tier-3 markets in the north, east and western region. Its international business (Middle East countries) currently contributes 17% of consolidated revenues. The company is looking to initiate international store expansion through a pilot franchisee model and is subsequently planning a robust expansion of its international operations. The overall expansion strategy aims to benefit from the shift from unorganised to organised and increase its market share consistently over the next few years
Impact:
Positive