Industry News

Kalyan Jewellers is planning to invest INR 900 crore in three years in a plan to expand globally

According to TechSci Research report “Global Gems & Jewelry Market Forecast & Opportunities, 2020”, the global market for gems & jewelry is projected to grow at a CAGR of around 6% during 2015-20. In 2014, the gold jewelry segment dominated the global gems & jewelry market, followed by diamond and platinum jewelry. Demand for precious gem stones has also been growing due to changing preferences of younger generation from gold to colored gemstone, platinum and palladium jewelry. Growing brand consciousness is also boosting sales of branded jewelry in developed as well as developing economies, and this trend is expected to gain strengthen over the next five years.

The jeweler, which has presence in Gulf Cooperation Council (GCC) countries, is planning to enter Sri Lanka, Singapore and Malaysia to meet demand of Indian diaspora living in these countries. 

According to T S Kalyanaraman, these BIS-hallmarked coins are available in denominations of 5 gm and 10 gm. "Though the company does not promote gold coins at their stores, they are definitely looking at selling Indian gold coins soon. The company is also looking up to setup new manufacturing plant in West Bengal and also has planned to open 3 new stores in Kolkata.

The Kerala based jeweler which is a leading brand of jewelers across India deals mainly in gold and diamond jewelry and the same would be made available online, the portfolio would include its popular designs in gold and diamond encompassing rings, pendants, earrings and necklaces.

The company’s managing director and chairman T S Kalyanaraman stated that the online jewelry sale is growing more than 70% per annum which is valued at more than INR 1200 Crores. The company has planned to target the online gifting segment costumers and over a thousand designs would be made available online through Flipkart.

The jewelry available online would be Hallmarked gold and certified diamond Jewelry which would ensure customer confidence.

According to TechSci Research, the shift from unorganized to organized market is being witnessed in the market. The company which is also moving into the rural business through its 650 'My Kaylan' stores is said to be a major booster for the company in a time when there is no significant presence of the unorganized market in the rural areas. The company would definitely have a first movers advantage.