Meet India’s richest jeweller who comes from a family of priests, fought father and took Rs 50 lakh loan, now owns..

T.S. Kalyanaraman is the founder of Kalyan Jewellers, a well-known jewelry brand in India with a business worth around Rs 75,000 crore. His story is one of determination and entrepreneurship, starting from humble beginnings and growing into a major jewelry chain. The business currently has 250 showrooms across India and 30 more in the UAE, Qatar, Kuwait, and Oman. With plans to expand into the United States, Kalyanaraman's journey is an inspiring example of turning a small idea into a large, successful enterprise.

Kalyanaraman was born on April 23, 1947, and grew up in a family with deep traditional roots. His grandfather was a temple priest, and his father, T.R. Seetharamaiyer, initially went against family expectations to open a clothing shop in Thrissur, Kerala. Eventually, the clothing business did well, leading to the launch of a textile factory and several small showrooms in the state. However, the family faced a setback when the government took over the textile factory.

At 12, Kalyanaraman began helping with the family business, and he later graduated in commerce from Sri Kerala Varma College. Inspired by the many jewelry shops surrounding their clothing showroom in Thrissur, he noticed a lack of customer choice and transparency in the jewelry market. This observation led him to venture into the jewelry business, despite his father's initial disapproval.

In 1993, Kalyanaraman used his savings of Rs 25 lakh and took a loan of ₹50 lakh to open the first Kalyan Jewellers showroom in Thrissur. Unlike other shops, his showroom was larger and offered more variety, providing a unique shopping experience. This successful start paved the way for further expansion.

When he opened a second showroom in Palakkad, the challenges increased due to different customer preferences compared to Thrissur. Kalyanaraman's son, Ramesh, was sent to understand the market, eventually leading to changes that suited local needs. This learning became a key strategy for future growth.

The brand has grown by adopting a hyperlocal strategy, tailoring each store's approach to the traditions and tastes of the local community. This includes hiring local employees and selecting brand ambassadors who speak the regional language. As a result, Kalyan Jewellers has become a household name in India, known for its trustworthy and customer-focused approach.

Recently, Kalyan Jewellers earned the ‘Great Place to Work’ certificate, adding to its reputation. Kalyanaraman's net worth, according to Forbes, is approximately ₹45,397 crore. His journey showcases how dedication and local insights can build a business from the ground up into a massive brand.

 

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