Kalyan Jewellers enters Karnataka with Hatrick Hero Shivaraikumar as their Brand Ambassador
T.S. Kalyanaraman, ventured into jewellery retailing in the year 1993 with Kalyan Jewellers. Today spread over Kerala and T.N, Kalyan Jewellers has 19 branches and is fast expanding. What differentiates Sri Kalyanaraman from the rest of his contemporaries in .the same trade though all of them sell the same product, gold, is the way he has been doing business. Coming from a family which entered into business to fulfill a family member's vision (Dewan of Kochi) that business should be value based and lead to the prosperity of the nation, Mr. Kalyanaraman always did his business in a fair and value based manner.
Kalyan has been at the forefront of pioneering efforts to educate the public on cheating and malpractices in gold quality and pricing through their campaign 'Fight Against Impure Gold". These efforts at times even benefited competitors who did fair business and caused stiff opposition from other fellow traders who indulged in these malpractices. It even affected Kalyan's profitability but Mr. Kalyanaraman believed if one was fair in business, though immediate setbacks may be there, in the long run profits would follow. And this is what has happened today.
Says Mr Kalyanaraman, "When we were closing every way to cheat customers, or rather, when customers were closing every way to get cheated, our competitors were coming up with newer and more innovative ones. The whole pricing mechanism in gold gave. them loopholes to do this. All of us can remember that never in our life have we been fully satisfied with the price at which we have bought the gold and completely convinced with the way the salesman had arrived at the price we need to pay for the product. This gets even more complicated when we exchange old gold. This confusion arises from a flexible pricing policy which had no benchmarks. The same product would get priced at 12%, 18% and even 25% by different players depending on the discounting structure and the promotional schemes and offers they gave customers at that point of time. A customer who doesn't bargain hard on discounts may end up paying higher for a product which may be passed on to another customer who bargains hard. It was a safe route to mint crores of rupees. In January 2009, Kalyan introduced 'Fixed pricing displayed on every product'. No salesman need be trusted. Every product had a price which the customer could see for himself as in the case of any other product in the market".
In the past few years Kalyan had initiated a few steps which have really revolutionized the gold retail trade in the markets of Kerala and T.N. The first step among this was when Kalyan launched the first ever full-fledged customer loyalty programme in Gold retailing. This initiative, called the 'Kalyan Gold Card' offers benefits of a lifetime to anyone who buys once in Kalyan. In addition to loyalty points for every purchase, these benefits include points for references, an annual no-profit sale for only cardholders and opportunities for a lot of other things including foreign trips, star shows, dining with stars, special exhibitions and promotions etc.
Product innovation is again the major strength of Kalyan. They have their own diamond creatives named DIY A collections and for the occasion of weddings etc, Kalyan Jewellers have created unique wedding sets called VAIBHAV. Kalyan also specializes in Kids jewellery. Soon Kalyan Jewellers also have plans of launching special jewellery pieces created by their own artisans named Vintage collections.
Kalyan gives prime importance in the service part too. Kalyan Jewellers feel that the customer who walks in should be treated as a part of the family and hence take utmost care to make them comfortable. They have a strength of around 2000 employees and spend a lot of time and cost to train them in such a way that they educate the customers about quality and price. They are trained to understand the customer's needs and display items till the customers get full satisfaction. They take care of the customer from the moment he/she enters the store till he/she returns back. Staff rotation is the least at Kalyan Jewellers because they treat each staff as their family member and give them the best available package in the industry.
Kalyan jewellers has introduced a savings scheme for their customers wherein they can remit a certain sum on a monthly basis and buy gold coins/ornaments after one year / two years with a certain amount of bonus added to it. This helps many people in saving money for gold purchase monthly. This is done only for the comfort of their clients and they don't advertise to sell this product.