Kalyan Jewellers, a retail jewellery major, is planning to enter the US market and launch its first showroom in the country by Diwali. The company also plans to open 40 new showrooms in India, 30 showrooms globally under the Candere brand, and expand its digital-first jewellery platform, Candere. In its quarterly update report, Kalyan Jewellers reported an overall revenue growth of approximately 27% YoY, with revenue growth for India operations at 29% during Q1 FY2025. Revenue growth from Middle East operations stood at 16% YoY. Candere, a wholly-owned subsidiary of Kalyan Jewellers, registered revenue growth of approximately 13% YoY. The company plans to launch a total of 130+ new showrooms during the current financial year.
Middle East eyewear retailer MAGRABi Retail Group plans to open 36 new Doctor M stores in 2024, expanding its footprint across the region. The expansion is driven by market potential and the size of the targeted segment. MAGRABi launched Doctor M in 2021 in Saudi Arabia and currently employs over 300 staff members across the Middle East. The company aims to have 300 outlets across the MENA region by 2030. In 2023, MAGRABi invested SR115 million ($30.66 million) in new store openings, refurbishments, and transformation projects. The selection criteria for new stores are based on demographic insights and understanding the target customers of each location. Key consumer trends influencing the company's strategy include a rising demand for modern urban eyewear stores and a preference for convenience. The expansion plan is expected to double the company's revenues in 2024. Talent acquisition and maintaining consistency and standardization across all stores are among the operational challenges anticipated during the rapid expansion. MAGRABi aims to enhance customer service and the overall shopping experience through its new retail concept stores. The company has also made significant strides in the digital sphere, using technology to make operations more efficient and track customer feedback. [8e2def6d] [34982b54]