Kalyan Jewellers To Launch US Outlet, First Outside West Asia In Its Global Footprint

Jewellery giant Kalyan Jewellers is set to launch its first outlet in the United States as part of its global expansion plan. The retail chain will embark on the new footprint by Diwali this year, according to an update provided by the company.

The Kerala-based jewellery major has so far not ventured outside of West Asia in its global footprint, and the company’s US foray will be a milestone leap ahead in its legacy. In West Asia, the firm has a total of 36 outlets, and on Friday, July 6, the company issued an update announcing its plan to kick off another 40 showrooms of Kalyan and 30 showrooms of digital-first brand Candere in FY25 as part of its broader expansion agenda of rolling out over 130 outlets in the ongoing fiscal year.

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Kalyan seems to be following the rival Indian brand Tanishq from the house of Titan, which has four outlets already in the US – New Jersey, Houston, Frisco, and Chicago – and is reportedly planning further expansion targeting the Indian diaspora market across the US.

According to C. K. Venkataraman, the CEO of the jewellery division of Titan, the celebration of Indianness by the Indian diaspora in the US prompts the company to accelerate its global store launches. The company already has over 16 Tanishq outlets in markets such as West Asia, including Dubai and Singapore. It is also focusing on the Indian diaspora in Canada, the UK, and Australia, in addition to US and West Asian countries, the Indian Express reported, citing Venkataraman.

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However, the update issued by Kalyan Jewellers said that it is optimistic about the upcoming new showroom launches and is gearing up with fresh collections and campaigns for the festive and wedding seasons across the country, noting that it has witnessed robust growth despite volatility in gold prices.

The jewellery major reported overall revenue growth of nearly 27% year-on-year in the June quarter. The company also saw revenue growth of nearly 16% year-on-year in the June quarter in its West Asian business.