During the IIJS Signature 2024 at the event in Mumbai, Rajesh Kalyanaraman, Executive Director of Kalyan Jewellers, announced plans for the opening of their 250th showroom in Ayodhya, Uttar Pradesh, within the current quarter. The Kerala-based jewelry firm revealed intentions to launch an additional 30 showrooms in the fourth quarter of the 2023-24 fiscal year across India and the Middle East.
By December 31, 2023, the company had already established 235 showrooms in India and the Middle East. Notably, they’ve completed signing letters of intent for 80 showrooms earmarked for the FY2025, with the majority adopting an enhanced franchise model, offering improved economic prospects for Kalyan.
Detailing their expansion plans, the company specified that among the upcoming showrooms, 15 would be Kalyan showrooms in India, two in the Middle East, and 13 Candere showrooms.
This expansion coincides with Ayodhya’s preparation for the inauguration of the Ram Temple on January 22, a significant event marked by a transformed cityscape. Anticipating a surge in tourism, the Ayodhya Development Authority expects a daily footfall of around three lakh tourists in the initial months following the temple’s inauguration.
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