Jewellery retail chains on a post-pandemic retail expansion spree

The large retail chains that inadvertently slowed down expansion during covid are now increasing footprint across India at an accelerated pace. Chain store brands like Kalyan Jewellers and Joyalukkas are capturing the market on the back of strong equity and awareness.

The growing purchasing power and rising demand from the new customer cohorts combined with greater aspiration for brands is driving the growth of such large jewellery brands.

Kalyan Jewellers is undertaking an expansion spree across Kolhapur, Aurangabad and Kamla Nagar (Delhi NCR), with first two showrooms launched in June. Talking about foraying into Kolhapur with its first-ever showroom, Mr. T S Kalyanaraman, Chairman and Managing Director – Kalyan Jewellers said, “Over the years, Kalyan Jewellers has built sizeable presence across 21 states in India through consistent investment and aggressive expansion strategy, establishing itself as the most-preferred jewellery shopping destination. The launch of 2 new showrooms in Maharashtra and 1 new showroom in Delhi is a testament to our commitment of making Kalyan’s service-backed and personalized shopping experience more accessible to consumers in these markets. With approximately 7% of our global presence in these regions, we aspire to further strengthen our customer base to supplement growth. We are confident that the brand’s patrons will continue to shower their love and support as we chart the next phase of growth for brand Kalyan Jewellers.

While urbanisation is one of the factors prompting Kalyan Jewellers to set up new showrooms in smaller towns and cities, Joyalukkas is planning a nationwide expansion in this financial year. Talking about the plans ahead, Baby George, CEO, Joyalukkas, said, “The immediate expansion plans are evenly distributed into one showroom in Maharashtra, one in Odisha and two showrooms in South India. We are catering to the needs of every local preference, after which we will  set up more showrooms in those regions. Each of these new showrooms will have regionally exclusive designs as well as nationally trending collections.”

Courtesy: Retail Jeweller Exclusive