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Kalyan Jewellers

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Kalyan Jewellers limited
Company typePublic
BSE: 543278
NSE: KALYANKJIL
IndustryJewellers
Founded1993; 31 years ago (1993)
FounderT.S. Kalyanaraman
HeadquartersThrissur, Kerala, India
Area served
India
Middle East
Key people
T.S. Kalyanaraman (Chairman & MD)
Sanjay Raghuraman (CEO)[1][2]
ProductsJewellery
OwnerKalyan Jewellers[3]
Number of employees
8,000
Websitewww.kalyanjewellers.net Edit this at Wikidata

Kalyan Jewellers is an Indian chain of jewellery showrooms.[4] It was founded by T. S. Kalyanaraman in 1993. The company opened its initial public offering on March 16, 2021, and was publicly listed on March 26, 2021.[5]

History

Kalyan Jewellers showroom in Thrissur City, Kerala

Kalyan Jewellers was founded by T. S. Kalyanaraman, who opened the first jewellery showroom in 1993 in Thrissur, Kerala, India with an initial capital of ₹75 lakh (US$90,000).[6] The company also has roots in the textile trading, distribution and wholesale business.[7]

Initially, Kalyan Jewellers strengthened their presence in the South Indian states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh and Telangana. In 2012, they expanded outside South India by opening a showroom in Ahmedabad, Gujarat and signed Amitabh Bachchan as their first National Brand Ambassador.[8]

In 2013, Kalyan Jewellers entered International markets by opening six showrooms on the same day in UAE.[9] Since then it has grown to operate 30 showrooms in the Middle East across UAE, Qatar, Kuwait and Oman. As of February, 2020 Kalyan Jewellers has a wide presence of over 137 showrooms, of which 107 are in India and the remaining 30 on the Middle East.[10]

The company has also set up ‘My Kalyan’, a customer service center, offering advance booking for wedding purchases, Kalyan Gold Purchase Advance Scheme, Gold Insurance for gold ornaments, etc. Currently there are over 761 ‘My Kalyan’ outlets in India.[11][12]

Brand ambassadors

In 2012, Kalyan Jewellers signed Amitabh Bachchan as its first National brand ambassador. Amitabh Bachchan and Jaya Bachchan are the Global brand ambassadors, while their daughter Shweta Bachchan Nanda is the celebrity influencer.[13][14] Later, Katrina Kaif was also hired to endorse the brand globally in April 2018.[15]

Kalyan Jewellers has also partnered with several leading celebrities to be regional brand ambassadors, including Manju Warrier and Kalyani Priyadarshan in Kerala, Nagarjuna Akkineni in Andhra Pradesh and Telangana,[16] Shiva Rajkumar in Karnataka, Prabhu Ganesan in Tamil Nadu.[17]

In the past, Kalyan Jewellers has been represented by Bollywood celebrities like Sushmita Sen,[18] Aishwarya Rai,[19] and Sonam Kapoor.[20] While Shah Rukh Khan represented them in the Middle East.[21][22]

Aishwarya Rai Bachchan was paid ₹10 crore (US$1.2 million) per year for a two-year deal with Kalyan Jewellers to be a nationwide brand ambassador, which was formerly Sushmita Sen. The advertising and marketing budget of Kalyan is around ₹90 crore (US$11 million)[23]

Later they also signed several regional brand ambassadors like Pooja Sawant in Maharashtra, Kinjal Rajpriya in Gujarat, Wamiqa Gabbi in Punjab, and Ritabhari Chakraborty in West Bengal.[24]

Criticism

In 2015, Kalyan Jewellers withdrew a controversial advertisement featuring Aishwarya Rai Bachchan after an open letter described it as 'insidiously racist' and huge flak.[25] The company said, "the creative was intended to present royalty, timeless beauty, and elegance".[26]

In 2018, Kalyan Jewellers was embroiled in a controversial commercial starred by Amitabh Bachchan and his daughter Shweta Nanda.[27] The Jewellers have withdrawn the advertisement after being criticized by the All India Bank Officers’ Confederation for allegedly depicting banks negatively. The bankers were threatened court cases, boycott calls and even a dharna against Kalyan Jewellers.[28]

Activities

In March 2020, Kalyan Jewellers released ₹10 crore (US$1.2 million) fund for COVID-19 relief work.[29]

Initial public offering

On March 11, 2021, Livemint reported that Kalyan Jewellers would be opening an initial public offering worth ₹1,175 crores on 16 March. The company is backed by Warburg Pincus and will offer fresh equity shares worth ₹800 in this debut public issue. It had attempted an IPO earlier but had called it off due to unfavorable market conditions.[30]

It was listed on the National Stock Exchange of India and the Bombay Stock Exchange on March 26, 2021. Its shares are listed at a 15% discount compared to the offer price.[31]

Product lines

Over the years, Kalyan Jewellers has launched various product lines. Some of their jewellery collections are:[32][33][34][35]

  • Muhurat – Wedding jewellery
  • Mudhra – Handcrafted antique jewellery
  • Nimah – Timeless heritage jewellery
  • Anokhi – Uncut diamond jewellery
  • Rang – Precious stones jewellery
  • Tejasvi – Polki diamonds jewellery
  • Ziah – Diamond jewellery collection
  • Laya – Contemporary gold & diamond jewellery
  • Glo – Dancing diamond jewellery
  • Vedha – Heritage jewellery with Uncut diamonds
  • Apoorva – Diamonds
  • Hera – Daily wear diamonds

References

  1. ^ Ghosal, Sutanuka. "Kalyan Jewellers appoints Sanjay Raghuraman as CEO". The Economic Times.
  2. ^ Narasimhan, T. E. (2 July 2020). "Kalyan Jewellers appoints Sanjay Raghuraman as CEO, names new directors". Business Standard India.
  3. ^ Stock exchange, Bombay. "Kalyan Jewellers IPO BSE" – via BSE Official.
  4. ^ "The success story of Kalyan Jewellers". Rediff. 15 March 2012. Retrieved 9 December 2018.
  5. ^ Mudgill, Amit. "Kalyan Jewellers shares list at 15% discount to issue price". The Economic Times. Retrieved 26 March 2021.
  6. ^ "How Kalyan Jewellers Rose To International Prominence". Forbes India. Retrieved 15 May 2020.
  7. ^ Kumar, Chitra Narayanan & V. Sajeev (16 July 2023). "How a textile family struck gold with jewellery retail". BusinessLine. Retrieved 26 September 2023.
  8. ^ Bureau, Our. "Bachchan signs up as Kalyan Jewellers brand ambassador". @businessline. {{cite news}}: |last1= has generic name (help)
  9. ^ "Kalyan Jewellers opens six showrooms in UAE". www.indiainfoline.com.
  10. ^ "INDIA TODAY CONCLAVE-Kalyan Jewellers | IndiaToday". www.indiatoday.in.
  11. ^ "Kalyan Jewellers plans pan-India growth to double revenues in five years". www.businesstoday.in. 19 December 2018.
  12. ^ "Kalyan Jewellers launches 16 My Kalyan stores in Mumbai". The Economic Times. 15 January 2014.
  13. ^ "Amitabh, Jaya Bachchan to feature in new jewellery ad". The Economic Times. 2 November 2015.
  14. ^ Tewari, Saumya (18 July 2018). "Amitabh Bachchan, daughter Shweta feature in Kalyan Jewellers' silver jubilee ad". Livemint.
  15. ^ www.ETBrandEquity.com. "Katrina Kaif roped in by Kalyan Jewellers as the brand's global ambassador - ET BrandEquity". ETBrandEquity.com. Retrieved 15 May 2020.
  16. ^ "Manju Warrier to Akkineni Nagarjuna: Kalyan jewellers sparkles with myriad regional stars". The New Indian Express.
  17. ^ "Kalyan Brand Ambassador Illayathilakam Prabhu Ganesan delight crowd | RITZ". RITZ Magazine. 24 December 2016.
  18. ^ "Sushmita Sen for Kalyan Jewellers". South Asian Bride Magazine. 27 September 2013.
  19. ^ "Kalyan Jewellers enters Delhi market, brand ambassador Aishwarya Rai Bachchan inaugurates showrooms". The Financial Express. 22 March 2014.
  20. ^ "Kalyan Jewellers ropes in Sonam Kapoor as new brand ambassador". The Economic Times. 14 March 2016.
  21. ^ Staff Reporter. "Kalyan Jewellers patrons meet Bollywood superstar Shah Rukh Khan". Khaleej Times.
  22. ^ "SRK inaugurates 3 Kalyan Jewellers showrooms in 3 countries in 1 eventful day". Everything Experiential.
  23. ^ "Kalyan Jewellers charts expansioYean, with Rs 90 cr marketing budget with". Campaign India. Retrieved 18 August 2012.
  24. ^ Laghate, Gaurav (3 June 2019). "Kalyan Jewellers picks regional stars as brand ambassadors". The Economic Times.
  25. ^ "Kalyan Jewellers withdraw 'racist' ad featuring Aishwarya Rai Bachchan". India Today. Retrieved 13 February 2021.
  26. ^ Dasgupta, Pritha Mitra; Ghosal, Sutanuka. "Kalyan Jewellers to discontinue 'racist' Aishwarya Rai ad amidst controversy". The Economic Times. Retrieved 13 February 2021.
  27. ^ Narasimhan, T. E. (25 July 2018). "'Trust ad' starring Amitabh scrapped: What went wrong for Kalyan Jewellers". Business Standard India. Retrieved 13 February 2021.
  28. ^ "Kalyan Jewellers withdraws controversial advertisment [sic] starring Amitabh Bachchan after bank employees protest". The Indian Express. 23 July 2018. Retrieved 13 February 2021.
  29. ^ Ghosal, Sutanuka (28 March 2020). "Kalyan Jewellers earmark Rs 10 cr for Covid-19 relief work". The Economic Times.
  30. ^ Sonavane, Ravindra N. (11 March 2021). "Kalyan Jewellers IPO to open on 16 March; issue price fixed at ₹86-87 apiece". mint. Retrieved 11 March 2021.
  31. ^ Mudgill, Amit. "Kalyan Jewellers shares list at 15% discount to issue price". The Economic Times.
  32. ^ "Kalyan Jewellers' Muhurat matches the sensibilities of brides from different regions in India". www.indulgexpress.com.
  33. ^ "Kalyan launches Ziah range of signature diamond jewellery". Gulf-Times (in Arabic). 1 June 2017.
  34. ^ "Kalyan Jewellers opens two new showrooms in UAE – Industry Herald24".[dead link]
  35. ^ Cariappa, Anuj (18 October 2019). "Diwali offer: Kalyan jewellers offers discounts, giveaways to lure buyers". oneindia.com.
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