SOUTHERN MIGHT

From a regional player till 2013 to 107 showrooms in 21 states in 2020, Kalyan Jewellers has come a long way. It is now looking to take on Tata Group’s Tanishq for the No. 1 spot in the country's organised retail jewellery segment

- P.B. JAYAKUMAR

Kalyan Jewellers’ Chairman and Managing Director T.S. Kalyanara-man’s grandfather moved about a century ago from Kumbakonam in Tamil Nadu to start textile shops in Thrissur, the cultural and economic capital of Central Kerala. In 1972, he inherited a textile shop and in 1993 thought of diversifying to jewellery. His customers, who came to Thrissur for weddings and festival shopping, gave him the idea of starting a jewellery shop in the same town. At that time, there were a few known shops in Thrissur such as Ayodhya, Chiriyankandathu and Fashion, but options were limited and orders placed based on sample show pieces were delivered only after a waiting period running into weeks. It prompted Kalyanaraman, known locally as ‘Swami’, to offer a new jewellery shopping experience — a plush and well-decorated shop on a 4,000-square-feet area, with four salesmen, car parking facilities and a wide choice of ready-to-wear ornaments. The venture started in 1993, which cost Kalyanaraman around ₹75 lakh ( ₹25 lakh own funds and ₹50-lakh debt), became an instant hit. However, it took him another seven years to open a new showroom at Palakkad, about 70 kilometers from Thrissur. By 2003, Kalyanaraman had opened only five showrooms in South India, while other jewellers were setting up many branches. The strategy was to study the local market deeply and go for ‘hyperlocalisation’. For the next 10 years, Kalyan continued to be a traditional gold jeweler with a strong regional grip, 25 showrooms and ₹1,000 crore in revenues.