Kalyan Jewellers, an Indian jewelry retailer, has made an impressive entrance to the UAE market, opening six outlets on December 26, 2013 - all in one day. The company has planned to invest in this business more than 2.5 billion rupees, which makes it the largest venture project ever promoted by the Indian company in the jewelry retail sector in the Emirates. Kalyan Jewellers will open salons in Abu Dhabi, Sharjah, Karam, Kusaise, Dubai and Mina Bazar.
Explaining the rationale for this mega-project, the chairman and managing director of Kalyan Jewellers TS. Kalyanaraman (TS Kalyanaraman) said that fundamental research for expanding business in the UAE has been underway for some time. "We believed that in this region a huge niche in terms of the market, the availability of products and the customer base," he said. Kalyan Jewellers has long ago changed the dynamics of jewelry retailing in India, opening large format salons that are rich in assortment, and the company intends to introduce this model also in the UAE.
All salons in the UAE have an average area of 5000 square meters. m on two floors. Each salon will have a special floor for diamonds - this is also done for the first time in the Emirates. Kalyan Jewellers will soon launch an advertising blitz company covering almost all media.
From its enterprises in the Middle East, Kalyan Jewelers expects to receive revenue of 200 million dirhams in the first three months ending March 31, 2014.