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 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$94,000).[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]
Aishwarya Rai Bachchan was paid ₹10 crore (US$1.3 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)[24]
In 2015, Kalyan Jewellers withdrew a controversial advertisement featuring Aishwarya Rai Bachchan after an open letter described it as 'insidiously racist' and huge flak.[26] The company said, "the creative was intended to present royalty, timeless beauty, and elegance".[27]
In 2018, Kalyan Jewellers was embroiled in a controversial commercial starring Amitabh Bachchan and his daughter Shweta Nanda.[28] The Jewellers have withdrawn the advertisement after being criticized by the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.[29]
Activities
In March 2020, Kalyan Jewellers released ₹10 crore (US$1.3 million) fund for
COVID-19 relief work.[30]
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.[31]