Kalyan Jewellers has witnessed a noteworthy 2 percent surge in NSE shares, driven by a remarkable 40 percent revenue increase in their India operations. This positive momentum stems from robust on-the-ground operations, with healthy same-store-sales growth across key markets in the country.
Strategic Expansion and Franchisee Model Success
In a regulatory filing on January 4, Kalyan Jewellers revealed their strategic moves, including the addition of 22 new showrooms during the quarter. Notably, 16 of these followed the successful Franchisee Owned Franchisee Operated model, showcasing the company’s effective expansion strategy.
Middle East Market Continues to Shine
Kalyan Jewellers’ Middle East business maintained positive momentum, contributing around 13 percent to the consolidated revenue for Q3 FY 2024. The region experienced a commendable 6 percent revenue growth compared to the previous fiscal.
Ongoing Expansion Plans
As of December 31, 2023, Kalyan Jewellers boasts a total of 235 showrooms in India and the Middle East. Looking ahead, the company aims to add 30 more stores in the ongoing quarter, with Ayodhya set to host their 250th store.