We all know how much Indians love gold.
From weddings to assets, gold is a compounding product.
We have seen various brands in the markets, but Kalyan jewellery has made its unique market position in India. From an ancestral cloth business, which T. S Kalyanraman got from his father, at the age of 12 he used to visit the store along with his father.
Most women used to visit clothes shopping and eventually always complained about not being able to get proper jewellery for my saree. These frequent questions from customers, gave him idea that how important jewellery is for Indians.
The business started with great enthusiasm. Initially, he thought of building 2 stores for both his sons. The quality and the comfort of Kalyan jewellery gave people, it started growing in kerala and Tamil Nadu and eventually the entire southern part of India. The business empire was growing rapidly and with growing demand and response from the people. They even entered the northern part of India, with 250 stores across India, making it one of the top jewellery brands. From clothing brands to Gold, how time flies.
Marketing and expansion strategies
* Always used popular film stars to promote their brands. From local actors of every state to Amitabh Bachchan.
* Always kept the price tag on Jewellery with clarity or bargaining.
* Most of the jewellery is already made and ready to use.
* Air conditioning stores with parking facilities with all comforts to relax and shop well.
* Research before doing anything, proper analysis is required.
* For two tier and three tier cities, an initiative of My Kalyan with smaller size and subsidized rates, they built almost 600+ stores.
* They have large scale employees of 10,000 people. The CEO is a professional man and both their sons are managing directors.
* They started upgrading as time moved forward. Most of the audit is done by Deloitte and all the business is monitored based on software and tech based systems.
* Involving young and enthusiastic people in the stores for effective management.
Today Kalyan jewellery has more than 1000 stores across the world. With $1.5 billion dollars. The jewellery and story is really inspiring, how generations have evolved over time.
