AUGUST 3, 2023
Kalyan Jewelers is without doubt one of the most popular names in India’s jewelery business. Kalyan Jewellers was founded in 1993 by TS Kalyanaraman. It is to be noted that Kalyanaraman is the chairman and managing director of Kalyan Jewellers and Kalyan Developers. TS Kalyanaraman is from Thiruvananthapuram, Kerala and belongs to a Tamil Brahmin family. TS Kalyanaraman’s net worth is USD 1.4 billion, according to Forbes. The market cap of Kalyan Jewelers is Rs 17,716.91 crore.
Kalyanaraman started working in his father’s shop when he was just 12. Kalyanaraman has studied commerce at Sree Kerala Varma College. TS Kalyanaraman opened the first store of Kalyan Jewellers in Thrissur City. Kalyan Jewelers is now one of the largest jewelry brands in India. Kalyan Jewelers has a workforce of around 8,000 employees and a network of 140 showrooms. TS Kalyanaraman is a media-shy person and he never takes credit for building a major brand. He once stated that “Whether national or international, customer satisfaction is most important for us”.
TS Kalyanaraman’s wife Ramadevi is a homemaker. He has their three children. The eldest son, Rajesh Kalyanaraman is married to Maya Rajesh. While their second son, Ramesh Kalyanaraman is married to Deepa Ramesh. Their daughter, Radhika is a homemaker and is married to Karthik R, who is the Managing Director at Kalyan Developers.
According to Technopak report, jewellery demand in India is significantly influenced by regional preferences as South India contributes 40 per cent of the total domestic consumption. Billionaire Kumar Mangalam Birla-led Aditya Birla Group (ABG) has now decided to invest Rs Rs 5,000 crore to launch exclusive jewellery retail stores across India. The stores named ‘Novel Jewels’ will sell in-house jewellery brands. Birla’s new venture will pose a direct challenge to Kalyan Jewelers, Tata group’s Tanishq and Mukesh Ambani’s Reliance Jewels.
Tanishq, which is of Tata group firm Titan Company, is largest organised jewellery business in India. Tanishq has over 400 exclusive boutiques across India. Some other key players in Indian gold market are Malabar Gold and Diamonds, Reliance Jewels, Joyalukkas, GRT Jewellers, Tribhovandas Bhimji Zaveri and Bhima Jewellers. It is expected that organized gold market in India would grow to 40% by 2025.
Courtesy/Source: DNA / PTI