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Kalyan Jewellers, one of India’s leading jewellery chains, has announced that it will launch over 50 new showrooms in the calendar year 2023 as part of its strategic expansion plan. With this sales network expansion strategy, it aims to grow at least 30 percent in its retail footprint in the next calendar year, which will translate into one new showroom every week in the next 12 months.

"We are planning to expand our retail footprint by more than 30 percent in the next calendar year and aims to add 52 new showrooms over the next 52 weeks," the company stated.

Citing that the non-South region contributes a total of 35 percent to its business in India, the jeweller plans to focus on this region in the next calendar year.

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The development falls in line with Kalyan Jewellers’ Vision 2025, which focused on the contribution of revenue from markets in the non-Southern regions.

The company is looking forward to ramping up its existing operations in all the major metro cities across the country, given the robust demand in such areas.

The company will focus on Tier-2 and Tier-3 markets in the Northern, Eastern, and Western parts of the country.

Further, business in the Middle Eastern region contributes nearly 17 percent to Kalyan Jewellers’ consolidated revenue, with demand momentum showing positive growth, along with buoyant customer sentiments.

Shares of the jewellery major are trading 1.78 percent lower at Rs 107.90.

(Edited by : Rukmani Krishna)

First Published:Dec 8, 2022 3:21 PM IST