Retail brand Kalyan Jewellers Tuesday said it is planning to spend Rs 300 crore for adding 8 new showrooms across five states in the south.
Kalyan Jewellers is planning to open 8 showrooms across the southern market, including two each in Andhra Pradesh, Tamil Nadu and Karnataka and one showroom each in Kerala and Telangana, a release said here.
This is in line with the company's strategy of investing in market penetration to touch 250 showrooms in five years.
"Last year our focus was to expand our operations in the non-south geographies, and we forayed into 10 new markets. We entered Assam, Chhattisgarh, Jharkhand and also added showrooms in Maharashtra, Delhi, West Bengal, Uttar Pradesh and Madhya Pradesh. This year, we are aiming for consolidation in the south and have earmarked Rs 300 for the purpose," Kalyan Jewellers Chairman and Managing Director TS Kalyanaraman said.
He said the company sees huge potential in the growing number of metros and mini metros in the southern region here.
"We usually allot Rs 30-45 crore for a showroom, and we will continue to deploy our larger format showroom strategy, as it is a proven success model," he added.
Kalyan Jewellers has also been focusing on hyper- localisation in the context of merchandise and has recently also announced the on-boarding of four regional ambassadors and influencer's for Maharashtra, Punjab, West Bengal and Rajasthan.
The brand has plans to further penetrate in these regions, and these ambassadors will be a part of the brand's communication in the respective markets and will also be involved in Kalyan's customer-centric initiatives.
In the South, Kalyan is associated with Prabhu in Tamil Nadu, Nagarjuna in Andhra Pradesh and Telangana, Shivraj Kumar in Karnataka and Manju Warrier in Kerala to continue to establish the regional connect.
Amitabh Bachchan, Jaya Bachchan, Shweta Bachchan Nanda and Katrina Kaif represents the brand globally.