Kalyan Jewellers to make their US debut by Diwali – Industry News

Kalyan Jewellers to Launch First US Store by Diwali, Eyes Global Expansion

The global expansion of Indian jewellery brands is on the rise, with Kalyan Jewellers set to launch its first store in the US by Diwali this year. This move comes as the retail chain aims to establish a global footprint, following in the footsteps of its rival Tanishq from the house of Titan.

Kalyan Jewellers recently provided a business update for the April-June quarter, revealing plans to open 40 new showrooms of Kalyan and 30 showrooms of their digital-first brand Candere in the fiscal year 2025. This expansion is part of a larger strategy to roll out over 130 outlets in the ongoing fiscal year. The US launch will mark Kalyan’s first foray outside of West Asia, where the chain currently operates 36 outlets.

Meanwhile, Tanishq already has four outlets in the US and plans to increase this number, targeting the Indian diaspora in various parts of the country. Titan, the parent company of Tanishq, is also considering taking its digital-first brand Caratlane to the US this financial year.

In a recent interview, Titan MD CK Venkataraman highlighted the growing trend of Indians celebrating their cultural identity, leading to an increased demand for Indian jewellery brands globally. Apart from the US, Titan is also focusing on the Indian diaspora in Canada, the UK, and Australia.

In the quarterly update, Titan reported a revenue growth of 9% year-on-year in the June quarter. While the jewellery domestic operations saw an 8% growth, the watches & wearables domestic business grew by 14%. Caratlane, Titan’s digital-first brand, reported an impressive 18% year-on-year growth during the quarter.

On the other hand, Kalyan Jewellers reported a revenue growth of nearly 27% year-on-year in the June quarter, with strong performances in both India and West Asia. The company’s ‘digital-first’ brand Candere also saw a 13% revenue growth during the same period.

With the festive and wedding season approaching, both Kalyan Jewellers and Titan are gearing up for new showroom launches and fresh collections. Kalyan Jewellers, in particular, has a pipeline of franchise-owned-company-operated showrooms set to open in the coming quarters.

Overall, the global expansion of Indian jewellery brands like Kalyan Jewellers and Tanishq reflects the growing demand for Indian craftsmanship and design worldwide. As these brands continue to expand their presence internationally, they are sure to attract a diverse customer base and establish themselves as key players in the global jewellery market.

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