Kalyan Jewellers to invest OMR10 million in Oman

Muscat: Kalyan Jewellers, a large retail jewellery chain in India, plans to invest OMR10 million in the next two years to increase its network of showrooms across Oman, the Executive Director of Kalyan Jewellers, Ramesh Kalyanaraman, said on Tuesday.
Speaking to Times of Oman, Kalyanaraman said: “We are planning to open five more stores in Oman in the next couple of years.”
He also said: “In each showroom, we invest around OMR2 to 3 million, depending on the location and size of the showroom. So, if we are adding five more showrooms we should be pumping in OMR10 million in the Oman market in the next couple of years.”
The company has already invested OMR10 million in the Oman market as the fifth showroom opens in Ruwi High Street on Thursday.
Kalyanaraman also said that the company is growing at a rate of 20 per cent a year. “We are really excited as the Oman market has accepted us very well. We have showrooms in 17 states in India so it is not a brand from a particular state, it is a home brand for everyone.”
In 2019, the revenue expectation from the Oman market is OMR18 million.
Kalyan Jewellers has chalked out an aggressive expansion plan to double its retail stores to 250 in India and the Middle East, as well as the turnover to Rs25,000 crore (Rs250 billion) over the next five years.
The Kerala-based jeweller currently operates 102 stores in India and 33 in the Middle East with a turnover of Rs10,500 crore (Rs105 billion) in 2017-18, Kalyanaraman said.
Kalyanaraman, who is in Muscat for the launch of its fifth store, also said, “It has set industry benchmarks in quality, transparency, pricing and innovation. Kalyan offers an array of traditional and contemporary jewellery designs in gold, diamonds and precious stones catering to the distinct needs of customers.”
Headquartered in Thrissur in the state of Kerala, Kalyan Jewellers is one of the largest jewellery manufacturers and distributors in India.
Starting with the first jewellery showroom in 1993, Kalyan Jewellers has enjoyed a long-standing presence in the Indian market for over two decades.
He also said, “A number of customer-centric initiatives are being launched regularly to enhance the shopping experience at Kalyan Jewellers showrooms, and shoppers at our new store will be able to avail of these popular offers.”
The new showroom in Ruwi High Street will offer Kalyan’s latest wedding collection, Muhurat. Apart from that, popular house brands such as Ameera - the Arabic Collection, Mudhra - handcrafted antique jewellery, Ziah - an exquisite range of diamond jewellery, Glo - dancing diamonds, Nimah - authentic heritage jewellery, Anokhi – uncut diamonds, Apoorva – diamonds for special occasions, Antara – wedding diamonds, Hera – daily wear diamonds and Rang – precious stones jewellery will also be on offer. Kalyan will draw from its portfolio of contemporary and traditional designs, and will offer selections for daily wear, as well as bridal wear and festive occasions.
At present, Kalyan Jewellers has a network of 102 exclusive showrooms in India and 32 exclusive outlets in the Middle East, across four countries, including Oman, the UAE, Qatar and Kuwait. It employs over 8,000 people worldwide.