The road to become India’s richest jeweller was not easy, but this businessman took out a loan of Rs 50 lakh to build a massive firm worth Rs 17,000 crore.
India has a large number of premium jewellers who have used their business acumen and generational wealth to take their business to the next level. However, the story of TS Kalyanaraman, Founder of Kalyan Jewellers, is very different and inspiring.
TS Kalyanaraman founded the widely successful Kalyan Jewellers in 1993 in Thrissur, Kerala. Kalyanaraman is the son of a leading textile businessman in the southern states but saw that the future to build massive wealth for his family is through gold and jewellery.
Kalyanaraman took his own personal savings of Rs 25 lakh and took out a loan of Rs 50 lakh from the bank, securing a capital of Rs 75 lakh to open the first Kalyan Jewellers store in Kerala. Soon, many of their loyal customers from the textile business started visiting their store in Thrissur.
Learning about the hyperlocal approach of selling jewellery, Kalyan Jewellers decided to first expand their market in Kerala and then reach other states. Building good relations with entrepreneurs and businessmen in the same field, Kalyanaraman mapped out his path to success.
TS Kalyanaraman had only one aim – to open two Kalyan Jewellers stores in the country for both his sons. However, his business sense took the brand to a new level of success, and the business has 32 stores in South India.
Spread across five countries now, Kalyan Jewellers is one of the youngest jewellery businesses but its immense growth has made it a firm with one of the highest revenue. Through his company, TS Kalyanaraman has become the richest jeweller in India.
At the age of 72, Kalyan Jewellers founder and managing director TS Kalyanaraman has a net worth of USD 2 billion, according to Forbes, which comes out to Rs 16,200 crore. The market capitalization of Kalyan Jewellers currently stands at over Rs 17,000 crore.
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