The Kalyan Jewellers India has established a significant presence in both domestic and international markets, operating over 277 showrooms across India and the Middle East as of July 2024.
History and Expansion:
T. S. Kalyanaraman, who grew up in a textile and retail family, launched the first Kalyan Jewellers store in Thrissur. Internationally, Kalyan Jewellers India has established a presence in the Middle East, with stores in the UAE, Qatar, Oman, and Kuwait, aiming to cater to the Indian diaspora.
Financial Milestones:
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Private Equity Investment: In 2014, global private equity firm Warburg Pincus acquired a minority stake in Kalyan Jewellers, investing ₹700 crore, followed by an additional ₹500 crore in 2017.
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Initial Public Offering (IPO): The company went public in 2021, marking a significant milestone in its corporate journey.
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Recent Financial Performance: In the fourth quarter of the fiscal year 2023-2024, Kalyan Jewellers reported a 34% increase in consolidated revenue compared to the previous year, driven by same-store sales growth and the addition of new showrooms.
Digital Initiatives:
To react to the changing retail landscape, Kalyan Jewellers bought a majority ownership in Candere, an e-commerce jewelry platform, in 2017, therefore expanding its online presence. By May 2024, the company fully acquired Candere, which now operates as a retail brand offering jewelry through both its website and physical stores.