Indian Kalyan Jewelers on Thursday said it is planning to expand its retail footprint by more than 30% over the next calendar year by adding 52 showrooms. The company said in a statement that the expansion will mainly focus on the non-Southern region, which currently contributes 35% of its business in India.
Expansion will be driven primarily by franchisees. The company operates under the FOCO (Franchise Owned Company Operated) model.
It plans to scale up its current operations in all major cities and is also looking to expand its geographical footprint in tier II and III markets in the northern, eastern and central regions. West.
On the global front, Jeweler Kalyan said it is seeing positive demand momentum and buoyant customer sentiment in its Middle East business, which contributes about 17% of its consolidated revenue.
The company is considering initiating a pilot franchise model in the region, then will roll out a strong expansion plan for its international operations.
“We recorded an impressive 12 month revenue (TTM) of around Rs 13,000 cores with a NPAT of around Rs 425 cores on September 30, 2022. Jewelry The industry is moving towards more organized and experiential retail, and we continue to be well positioned to capitalize on this trend.
“The overall expansion strategy aims to facilitate our next phase of growth and will significantly increase our market share and enhance the return on our capital profile,” said Director operating Kalyan Jewelers Ramesh Kalyanaraman speak.