Kalyan Jewellers to debut in US by Diwali as quarterly update show positive indications 

The expansion is part of a broader agenda to roll out over 130 outlets during the current fiscal year 

Mumbai: Jewellery major Kalyan Jewellers is set to open its first store in the US by Diwali this year, marking the retail chain’s initial foray outside of West Asia. This move aligns with Kalyan’s strategy to establish a global footprint similar to its rival Tanishq. 

Kalyan Jewellers announced on Friday that it plans to open 40 new Kalyan showrooms and 30 showrooms of its digital-first brand, Candere, in FY25. This expansion is part of a broader agenda to roll out over 130 outlets during the current fiscal year. The US store will be a significant addition to the chain’s 36 existing outlets in West Asia. 

Kalyan Jewellers reported a robust operating performance across India and West Asia for the April-June period, despite volatility in gold prices and a strong base quarter. The company achieved an overall revenue growth of nearly 27% year-on-year for the June quarter, with India operations seeing a 29% growth and same-store sales increasing by 12%. 

Kalyan’s West Asian business experienced a 16% year-on-year revenue growth, with same-store sales up nearly 15%. The company’s digital-first brand, Candere, saw a 13% revenue growth compared to the previous year. During this period, Kalyan converted Enovate Lifestyles, the operator of Candere, into a wholly-owned subsidiary. 

“We are upbeat about the upcoming new showroom launches and are gearing up with fresh collections and campaigns for the festive and wedding season across the country, starting with Onam towards the end of the current quarter,” the company stated. 

Kalyan Jewellers launched 13 franchise-owned-company-operated (FOCO) showrooms in India during the quarter, with a strong pipeline of such outlets set to open in the coming quarters. Currently, Kalyan Jewellers operates a total of 277 showrooms across India and West Asia, including Candere. The company opened 24 new Kalyan and Candere showrooms this quarter. 

Retail Jeweller India News