South Indian entrepreneurs have contributed immensely to the country's technological, industrial, and cultural landscapes. Their innovations and enterprises have helped shape India's position as a global player in various domains, including information technology, manufacturing, and entertainment. One such story is that of Kalyan Jewellers.
Kalyan Jewellers is a leading Indian jewellery retail chain founded by T.S. Kalyanaraman in 1993 in Thrissur, Kerala. The company has grown rapidly over the years and now has over 150 showrooms spread across India and the Middle East. Kalyanaraman comes from a family with a legacy of over a century in business, starting from as early as 1908. The company has its roots in textile trading, distribution, and wholesale business.
T.S. Kalyanaraman, the founder of Kalyan Jewellers, is a business tycoon who ventured into the world of business at the age of 12. He managed to build a billion-dollar business in the following decades. With Warburg Pincus as a key investor, the company's revenues are at ₹112 billion. Kalyanaraman leads an uber-rich lifestyle with a net worth of ₹124 billion, according to a Forbes report. He owns a private jet, Embraer Legacy 650, which is worth ₹178 crore.
Kalyan Jewellers is known for its traditional and contemporary beautiful jewellery designs in gold, diamonds, precious stones, and other precious metals. The company has always believed that the customer needs to be educated and aware, and as a part of this philosophy, it has conducted several well-publicised campaigns over the years to educate customers about purity, pricing, and other aspects.
Kalyan Jewellers has also focused on launching new sub-brands catering to various segments and styles, introducing price tags, detailing price components to aid transparency, and introducing product certification with a guarantee of purity, lifetime maintenance, exchange, and buyback. The company has always focused on after-sales service and staff training to drive customer satisfaction and win repeat business.
Kalyan Jewellers has invested in digital marketing and online sales through its e-commerce business, Candere, and has launched the first-ever loyalty program in jewellery retail. The company has also installed karatmeters in all its stores to verify the purity of gold jewellery.
Kalyan Jewellers has faced criticism in the past for its business practices, including allegations of underpayment of wages to workers in its factories. However, the company has taken steps to tackle these issues and improve working conditions for its employees.
