Hyderabad, Nov. 30
Kalyan Jewellers, a leading gold retailer from the South, today announced Tollywood actor Nagarjuna as their brand ambassador.
“This is something we have done in the past by inducting leading actors Mammootty, Dileep, Prabhu and Shivakumar as brand ambassadors. Most jewellers prefer actresses as ambassadors but we decided to be different. This approach has worked,” said Mr T.S. Kalyanaraman, Chairman and Managing Director of Kalyan Jewellers.
Addressing a press conference here today after announcing their plans to commission their first store in Andhra Pradesh at Hyderabad, and their 21st in the South, he said this maiden entry into AP will be followed up with four more by next year.
“We are planning major expansion of the gold retail outlets. This will mean 20 more stores by next year with a total investment of Rs 450 crore. The company closed last year with revenues of Rs 3,000 crore. We are looking at doubling the revenues to Rs 6,000 crore with this expansion,” Mr Kalyanaraman said.
“The company is also gearing up for stores in overseas markets. First such store will come up at Dubai next year,” he said.
The funding for the expansion would be met through internal accruals and bank debt. The expansion has already begun with more stores coming up in Kerala, Tamil Nadu, Karnataka and AP.
“As a part of new initiatives, the company plans few more brands of gold and diamond jewellery, while catering to specific designs reflecting local culture.
"We will spend Rs 50 crore towards marketing and brand promotions this year, this includes teaser ads and TV commercials featuring Nagarjuna,” he said.
The Kalyan group, which is also into textiles, has a turnover of about Rs 4,000 crore from the textile business, he said.
Nagarjuna said, “his wife (actress Amala) and himself have no great liking for jewellery. However, I am happy to be associated with Kalyan for their credibility and business values.”