Kalyan Jewellers invests 175 cr

Hyderabad: Jewellery brand Kalyan Jewellers is investing Rs 175 crore for expanding its operations by opening four new showrooms in the country. With this expansion, the company is making a foray into eastern India for the first time by opening a showroom in Bhubaneswar, Odisha.

Besides, the brand is also consolidating its presence in the National Capital Region of Delhi with tw showrooms in Gurgaon and Noida. The fourth new showroom will come up in the UAE, taking the total network in the oil rich country to 10 outlets.

“Jewellery consumption in the Indian market is increasing due to positive consumer sentiment and stable prices, and we want to tap into this growth through the three new showrooms. The investment in UAE is in line with the buoyant demand in the Gulf region.

We expect our international operations to contribute up to 10 per cent of our revenues by the end of this financial year,” said TS Kalyanaraman, the company’s CMD. Funding of the expansion plans will be met through the funds we have received from the private equity investment as well as from internal accruals and bank borrowings, he added.