Kalyan Jewellers is set to expand into a new segment by launching a dedicated retail chain offering jewellery with lower making charges, aiming to tap price-sensitive customers across regional markets.
Speaking at the Dhanam Family Business Conclave in Kochi on March 25, managing director TS Kalyanaraman said the company would open five such stores within the next 12 months as part of the initial rollout. The outlets will be designed around regional preferences, with a focus on affordability and simplified designs.
The initiative is expected to target customers who are increasingly conscious of making charges, which can significantly influence the final price of jewellery.
The new retail format will be rolled out across India, including Kerala, with a region-specific approach to product design and pricing. The company already operates an extensive network of showrooms, alongside a strong presence in lightweight jewellery through its Candere brand.
Industry trends indicate rising demand for lighter and lower-cost ornaments, especially among younger buyers and middle-income households.
Founded in Thrissur, Kalyan Jewellers has grown into one of India’s largest jewellery retailers, with a presence across India and overseas markets. The company has consistently expanded its showroom footprint and diversified its offerings to capture different customer segments.
Speaking at the Dhanam Family Business Conclave, Kalyanaraman also highlighted key lessons for family-run enterprises. He said accepting external investment is crucial for scaling up operations, citing the company’s own experience with private equity funding as a turning point in its growth journey.
He added that while many believe family businesses stagnate after a few generations, Indian firms have shown the ability to sustain growth across multiple generations by adapting and professionalising operations.
He also emphasised the importance of maintaining strong relationships with employees and customers, noting that practical business experience often outweighs theoretical knowledge in building successful enterprises.