Live
- Petrol and diesel prices today stable in Hyderabad, Delhi, Chennai and Mumbai on 26 April
- Gold rates in Delhi slashes, check the rates on 26 April 2024
- OU comes alive with vibrant celebration of Taksh festival
- Gold rates in Vijayawada slashes, check the rates on 26 April 2024
- Gold rates in Hyderabad slashes, check the rates on 26 April 2024
- Gold rates in Visakhapatnam slashes, check the rates on 26 April 2024
- Ambati, Bhashyam file nominations
- Lemon vendor Mallamma files nomination
- Hyderabad: Sneha Mehra appointed as DCP (South)
- Hyderabad: HMWSSB training programme concludes
Kalyan Jewellers to invest Rs 1,800 cr on expansion by FY17
Highlights
Kalyan Jewellers is planning to invest up to Rs 1,800 crore by FY2016-17 to expand its footprint across the country, while it targets 30 per cent sales growth at Rs 13,000 crore this year.
Kalyan Jewellers is planning to invest up to Rs 1,800 crore by FY2016-17 to expand its footprint across the country, while it targets 30 per cent sales growth at Rs 13,000 crore this year.
"We plan to invest up to Rs 1,800 crore to expand into new cities by next financial year to increase our sales network. We are looking at 30 per cent increase in revenue at Rs 13,000 crore this year as against Rs 10,000 crore last year," Kalyan Jewellers Chairman and Managing Director S Kalyanaraman told PTI.
The Kerala-based company is also looking at foraying into the online space with its own portal, while it continues to expand its retail footprint in the country.
"We are going to enter into the online space with own portal this year. It is a growing segment," he added.
This year, Kalyan Jewellers plans to enter cities such as Bhubaneswar, Nagpur, Aurangabad and Kolkata. At present, the company operates 81 stores.
The company, which has operations in the UAE and Kuwait, is looking at ramping up its overseas presence. Kalyan Jewellers will next enter Qatar this year.
"We will open outlets in Qatar this year to take our total store count in Middle East to 21. We are also looking at opening stores in Sri Lanka, Malaysia and Singapore in one-two years," he added.
Last year, private equity major Warburg Pincus invested Rs 1,200 crore to pick up 15 per cent stake in Kalyan Jewellers.
Next Story
ADVERTISEMENT
