Companies

Kalyan Jewellers to launch four-level assurance certification on gold items

V Rishi Kumar Hyderabad | Updated on August 21, 2019 Published on August 21, 2019

Ramesh Kalyanaraman, ED

Opens third showroom in Hyderabad

Kalyan Jewellers expects the domestic jewellery market to grow in tandem with the organised players.

The growth of the organised players in the past few years has also paved the way for rapid adoption of BIS certification. Assurance programmes too have been gaining ground.

Ramesh Kalyanaraman, Executive Director, said: “Kalyan has grown to a chain of 138 jewellery stores of which 104 are located in India. We expect to grow at 10-15 per cent as achieved in the past several years.”

Gold prices have shot up by nearly 15 per cent in recent times due to various external and internal factors. While this may fluctuate a bit, gold sale is likely to go up during the festival and marriage season, he said.

Opening the company’s third showroom in Hyderabad today, its 138th overall, he said: “Kalyan will soon launch a new four-Level assurance certification on gold jewellery. This is a special initiative to enhance the brand’s commitment towards offering the very best to its loyalists.” Apart from BIS certification, the new asssurance promises customers payment on value of purity mentioned in the invoice during exchange or resale. In addition, it ensures free lifetime maintenance of ornaments at Kalyan Jewellers’ showrooms in the country.

The new showroom was inaugurated by Kalyan Jewellers’ brand ambassador Akkineni Nagarjuna.

Investment in South

The company had earlier announced its intention to invest ₹300 crore in South India.

Hyderabad is an important growth market for the brand and the investment in the region is part of the strategy to establish a stronger presence and make it more accessible to its customers.

Sharing business insights, Kalyanaraman said 30-40 per cent of the jewellery business comes from old gold jewellery and the rest is new. Festivals and marriages provide a great opportunity for Indian households to purchase jewellery, which they see as a long-term asset.

Regarding marketing initiatives, he said the company invests about ₹200 crore on marketing.

Of this, about 15 per cent is for the digital segment to attract youngsters.

Published on August 21, 2019
This article is closed for comments.
Please Email the Editor