T. S. Kalyanaraman’s story of building Kalyan Jewellers is one of success, ambition, and hard work

Early beginnings 

Kalyan’s entrepreneurial journey began when he was a child, learning the basics of the textile business from his father

Starting out 

Kalyan opened his first jewelry store in Thrissur, Kerala in 1993 with an initial investment of ₹75 lakh, which was a combination of his own savings and a loan

Expansion 

Kalyan Jewellers expanded to other states in South India and then to Ahmedabad, Gujarat in 2012. In 2013, they opened six showrooms in the UAE, marking their entry into international markets

Customer service 

Kalyan Jewellers offers a customer service center called “My Kalyan”, which provides services like advance booking for weddings, gold insurance, and more

Legacy 

Kalyan Jewellers’ story is the subject of the autobiography The Golden Touch, which offers an intimate look at the life of the founder and the transformative moments that shaped his life

Wealth 

Kalyan Jewellers is now worth over ₹17,000 crore and Forbes estimates the wealth of its founder, T. S. Kalyanaraman, at around USD 2.8 billion

Thus, the first Kalyan Jewellers store opened its doors in 1993, with an initial capital of ₹1 crore. TS Kalyanaraman invested ₹25 lakh from his savings and secured a loan of ₹75 lakh to turn this vision into reality

In the bustling temple town of Thrissur, a glittering empire was born. Ranked as India’s wealthiest small town, Thrissur boasts the combined wealth of the rich, with a net worth exceeding ₹1,000 crore. This radiant success story centers around one man—TS Kalyanaraman, the founder of Kalyan Jewellers, whose net worth now exceeds a billion dollars. The brand, which emerged just three decades ago with a single store, has seen its revenues reach ₹14,071 crore in FY23, spreading its brilliance across 194 outlets in India and West Asia.

The Journey Begins

Kalyanaraman’s entrepreneurial journey started generations ago. His forefathers, originally from Tamil Nadu, migrated to Kerala, with textile mills running in their blood. Ramesh Kalyanaraman, TS Kalyanaraman’s son, fondly remembers the family’s textile legacy, especially the Seetharaman mill. Ramesh narrates that his father was entrusted with managing one of the textile stores at a young age, instilling a strong business acumen.

At the age of 21, TS Kalyanaraman’s entrepreneurial spirit led him to branch into the world of jewelry. It was the sincere requests of his customers, whom he shared a deeply personal connection with, that encouraged this diversification. People wished to purchase both sarees and jewelry for their children’s weddings from the same destination. Thus, the first Kalyan Jewellers store opened its doors in 1993, with an initial capital of ₹1 crore. TS Kalyanaraman invested ₹25 lakh from his savings and secured a loan of ₹75 lakh to turn this vision into reality.

Creating a Radiant Difference

Kalyan Jewellers set itself apart from the competition in Thrissur. While most gold jewelry retailers of the time focused on crafting custom-made jewelry based on orders, TS Kalyanaraman thought differently. He brought a textile business perspective to the jewelry industry, offering a collection of ready-to-buy pieces. This approach required a more extensive display area and dedicated parking—a concept that was quite revolutionary at the time.

What followed was a heartwarming testament to the Kalyan brand’s value. Customers postponed their children’s weddings for over two months to shop at Kalyan Jewellers. TS Kalyanaraman recalls how humbled he felt and attributes this success to the presence of a higher power and the unwavering loyalty of their customers. This customer-centric ethos has remained at the heart of Kalyan Jewellers, fostering a sense of responsibility among the employees who understand the pivotal role customers play in sustaining the brand.

Expanding Horizons

The expansion of Kalyan Jewellers mirrored the model established by TS Kalyanaraman’s grandfather, who believed in giving each son an independent store. Consequently, TS Kalyanaraman extended this model to his two sons—Ramesh and Rajesh. Ramesh was entrusted with setting up a store in Palakkad, while Rajesh inaugurated one in Thrissur.

The Palakkad store became a turning point, highlighting the diversity in consumer behavior even within close geographical areas. Initially, Kalyan replicated the 4,000 sq ft Thrissur store in Palakkad, offering identical products. Yet, within two years, the store and retail strategy had to be restructured. While customers in Thrissur preferred straightforward transactions without bargaining, Kalyan’s expansion into locations like Tamil Nadu required a more flexible approach, involving discounts and personalized customer interactions.

Interestingly, the Palakkad store’s opening coincided with a time of uncertainty in Coimbatore due to a bomb blast, diverting shoppers to Palakkad. This shift in consumer behavior in response to location-specific cultural nuances led to Kalyan’s adoption of a localized retail and product strategy in other regions.

What is Kalyan Jewellers famous for?

Kalyan’s biggest strength is in these craftsmen who create unique designs just for us from every nook and corner of India. And this range of jewellery, with those subtle nuances and the perfect finish which you won’t find anywhere else is what we bring you through our various brands

How Kalyan Jewellers earn money?

Answer and Explanation: Jewelry shops like Tanishq, Kalyan Jewellers, Joyallukas, etc., make a profit after selling on the prevailing price of gold by charging very high making charges on every gram of gold sold to its customers.

What is the tagline of Kalyan Jewellers?

Both the campaigns end with the tagline, ‘Heera hai sab ke liye, Hindi for ‘A diamond is for everyone. ‘ “With these ads, we aim to remove the ‘elitist positioning’ of diamonds,” says Ramesh Kalyanaraman, executive director, Kalyan Jewellers

Who is the brand ambassador of Kalyan Jewellers?

Brand Ambassador Amitabh Bachchaninaugurated Kalyan Jewellers’ 250th showroom globally in Ayodhya

Who is the promoter of Kalyan Jewellers?

The promotor/promotors of Kalyan Jewellers India Ltd are T S Kalyanaraman, T K Seetharam, T K Ramesh, Salil Nair, Anish Kumar Saraf, Agnihotra Dakshina Murty Chavali, T S Anantharaman, Kishori Jayendra Udeshi, Anil Sadasivan Nair, Jishnu R G, Vinod Rai.. What has been 52-week high of Kalyan Jewellers India Ltd stocks?

Who is the MD of Kalyan Jewellers?

T. S. Kalyanaraman is the chairman and managing director of Kalyan Jewellers and Kalyan Developers. The business tycoon ventured into the world of business at the age of 12 and started his own jewellery chain in 1993 in Thrissur city

How many branches of Kalyan are there?

Currently, we have over 190 showrooms spread across India and the Middle East, with more to come in the future

What is the mission of Kalyan Jewellers?

To give every customer much more than what he/she asks for in terms of quality, selection, value for money and customer service, by understanding local tastes and preferences and innovating constantly to eventually provide an unmatched experience in (Indian) jewellery shopping

Success story of Kalyan Jwellers shares in stock market

The success story of Kalyan Jewellers India Ltd.’s stock includes

Impressive growth: The stock has increased 945% over the last three years

Strong performance: The stock has outperformed the broad market, rising 90% while the benchmark index rose 12%

High price-to-earnings ratio: The stock is trading at a price-to-earnings ratio of 113 times, which is much higher than its 3-year median of 30.3 times

Potential for further growth: HSBC recently upgraded its price target, and many believe there’s still room for growth

Profitability 

Kalyan Jewellers has shifted from losses to steady profits

Dividend 

Kalyan Jewellers declared a dividend with a payout exceeding 20% for FY24, double that of FY23

Government policies 

The government’s announcement of a reduction in customs duty on gold in the 2024 budget is expected to boost demand for gold, benefiting companies like Kalyan Jewellers

As of the end of FY24, Kalyan Jewellers operates 204 stores and has achieved a revenue CAGR of 30 per cent over the past three years, with an FY26 PE ratio of 56x. This mirrored Titan’s position in FY17 when it had 209 stores (including Tanishq and Zoya) and a 12-month forward PE ratio of 56x

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