Kalyan launches new brand ‘ATM’ to shine in Tamil Nadu’s gold loving market

From a single store in Thrissur to a pan-India empire, Kalyan Jewellers spent decades conquering the national stage, however has now spotted a golden opportunity in a hyper-regional regional market. To conquer Tamil Nadu, touted to be India’s biggest gold jewellery consuming State, Kalyan has launched a new brand Akshaya Thanga Maligai (ATM), which will take the State’s legacy jewellers in their own turf.

ATM is all set to make a glittering debut with its first showroom, a massive 25,000 square feet space, at Chennai’s most prominent jewellery retail hub Panagal Park in T Nagar. Over the next six months, four greater ATM stores will open in the State, disclosed Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India. The jewellery giant is investing ₹300 crore this financial year on ATM, which will be its third brand after Kalyan and Candere.

The company has already launched teaser campaigns among Chennai audiences featuring Tamil actor Sivakarthikeyan asking customers to watch out to an ATM that now gives jewellery. “It’s a fun name and marketing device,” opines independent strategy consultant Toru Jhaveri on the new brand name.

Golden opportunity

On the need to a separate brand to the State, Ramesh Kalyanaraman explained that the organised jewellery market had now evolved into multiple distinct segments, and regional markets offer significant opportunities. “Right from the name, the inventory, the campaigns, the staff, and other aspects, everything will be 100 per cent authentic Tamil,” he said. The inventory is also curated specifically to the State’s preferences in terms of designs, weights, price-points and buying occasions, he added. Every state has distinct preferences in chains, bangles, necklaces and other items making localisation crucial,” he said.

Interestingly, while ATM is backed by Kalyan’s scale, sourcing and condition-assurance systems, the company does not plan to lean on their national brand to promote ATM. “This brand stands by itself,” he stressed.

Jhaveri felt that having a separate brand to a State that has disproportionate share of consumption in a category was a sound strategy, especially at a time when consumers elsewhere were being “skittish” about purchasing gold. She said that that gold jewellery consumers in Tamil Nadu develop a very distinct kind of purchase experience, with the entire family participating. “So, apart from the design preferences, even the retail experiences have to be tailored differently,” she points out.

Kalyanaraman said that the company will first establish the concept in Tamil Nadu before evaluating similar regional formats in other States. however there are greater States in consideration, he said.

Published on July 31, 2026