Thangamayil Jewellery Ltd Company Summary

Thangamayil Jewellery Ltd Summary

Thangamayil Jewellery Ltd is one of the leading jewellery retailers in Madurai, Tamil Nadu. The company trades in Gold Jewellery, Diamond and Platinum jewels. They sell variety of ornaments like Gold chains, Necklaces, Bangles, Ear Studs, Nose Rings, Waist Belts, Kasu Malai, Finger Rings, Bracelets and other items fitting to the taste of the customers. The ornaments are made to order as per specific requirements by the customer and the same are manufactured at the companys unit near Madurai. Further, the gold jewels are bought readymade from various dealers situated in the states of Andhra Pradesh, Gujarat, Kerala and West Bengal, according to the designs, models and current fashions and demand in the market for sale at the counters.The company introduced the Hallmarking practice for the first time in Madurai and also conducted an awareness campaign introducing this concept to the customers in the market serviced by the company. They are having their showroom at Netaji Road, Madurai. The showroom is housed in a three storied set up in total area of 11,416 sq ft.Thangamayil Jewellery Ltd was incorporated in the year 2000 as a private limited company with the name Thangamayil Jewellery Pvt Ltd. Prior to the formation, the business was carried on by the promoters of the company in the name of Balu Jewellery as a partnership concern. Since 1984, the company is in the business of manufacturing and trading of jewellery.In May 2001, the company purchased the Gold Assaying Machine to ensure quality of gold ornament through laser technology. In June 2001, they opened their exclusive showroom for Diamond and other precious stones at Madurai. In August 2001, they obtained BIS hallmarking license.In May 2003, the company initiated the concept of Akshya Thritiyai with the help of world gold council and helped in a breakthrough in gold jewellery market. In January 2006, they registered Thangamayil as a trademark.During the year 2007-08, the company acquired the business of Thangamayil Gold and Diamond Pvt Ltd as per the agreement dated August 31, 2007. During the year 2008-09, they took over the business of Silvears Jewellery Pvt Ltd as per the business transfer agreement dated August 01, 2008.During the year 2008-09, the company opened their showrooms at Rajapalayam, Karaikudi and Ramanathpuram. Also, in November 2009, they opened a showroom at Dindigul.During 2009-10, Company opened 3 more branches in Dindigul, Theni and Sivakasi; launched a new chain of retail stores dealing in Fashion Jewellery , Silver items, accessories and gift items. In 2010-11, it opened 2 more retail stores; completed its renovation and modernization at Madurai Main Branch and opened the same for public on and from 29 April 2011; opened 11 more retail stores during 2012-13; Moreover till 24 May, 2013 in the current year, company had opened 2 more branches in Sivagangai (07.04.2013) and Gobichettipalayam (16.04.2013).During 2013-14, Company increased its own manufacturing facilities to produce gold ornaments like chains and other low value mass volume items from 5 kg per day to 10 kg per day at Madurai and Coimbatore outlets. It opened 5 more branches during the year. For operational reasons, the Company merged the Vellakovil Branch with that of Dharapuram by transferring the inventory and customer base.During the year 2015-16, one more branch at Virudhunagar was added aggregating the retail outlets in 31 places and two of the old branches namely Karaikudi and Anna Nagar (Madurai) were refurnished in order to get better ambience. The Company commenced operations in 3 retail outlets in addition to the existing 32 branches during 2019-20. Apart from the existing 35 branches, it opened in the current year two more branches, Devakottai and Usilampatti. In 2020, it commenced operations in twelve retail outlets in addition to the existing 35 branches. The company after a period of consolidation opened 4 retail outlets in 2021-22, Nagercoil on 15th October 2021, Surandai on 27th October, Kalavasal Madurai on 14th November 2021 and Pudukottai on 11th February 2022. It opened its 52nd branch at Trichy, on 14th April 2022.