Jeweler Turned Billionaire On Gold Holdings

Posted by Brittany Stepniak  on the Wealth Wire 

Merely wanting to “do good for the community,” 65-year-old T.S. Kalyanaraman has become a billionaire in just ten years due to surging gold prices. 

Kalyanaraman is an esteemed and customer-appreciated jewelry in Kerala India. He opened shop in 1993 and now owns 44 stores in India and has plans in motion to have another 34 opened by March 2014. 

According to the Bloomberg Billionaires Index, Kalyanaraman’s closely held Kalyan Jewellers is valued at about $1 billion in light of the ongoing 12-year gold rally. 

Due to popular Indian festivals and culture, gold jewelery is in especially high demand in India. A stark 75% of Indian women say they are “constantly searching for new designs.” Tag on inflation and currency devaluation woes, and India currently stands as the world’s largest consumer of the precious yellow metal. Indians consume approximately 30 percent of the world’s supply. 

In the quarter concluding on September 30, gold demand in India surged another nine percent, despite global demand declining 11 percent, according to the World Gold Council. 

As good a place as any to start up a jewelery store if you ask me…

In the fiscal year ending on March 31, Kalyan Jewellers had reported a revenue equivalent to $1.8 billion (95 billion rupees). Meanwhile, humble Kalyanaraman says he doesn’t calculate his net worth. When confronted and interviewed regarding his status as a billionaire, he responded, “I am more keen to trade, develop my brand, but you may be right.”

This newly turned billionaire is no stranger to the realm of business – he began studying it when he was 12-years-old and went on to study commerce in college before officially opening is jewelry business with 7.5 million rupees. 

To keep business coming, Kalyanaraman will use Aishwarya Rai — a former Miss World — is one of the brand ambassadors. He wants “the most beautiful woman in the world” to endorse his product. 

If gold continues the path it’s been on, Kalyanaraman is sure to meet 2013 with even more success than he achieved last year after gold gained 7.1 percent, in part because of stimulus programs initiated in U.S., Europe, and Japan. 

Any additional quantitative easing measures will undoubtedly increase gold’s allure as a record-number of investors seek the metal as a safe haven. It’s safe to bet on more billionaires popping up across the globe – billionaires that have been stockpiling gold since the financial debacle of 2008. 

You too could find a fortune of wealth if you go for gold. For further tips on buying gold at a discount, click here.