Kalyan Jewellers to invest 600 cr
Kalyan Jewellers, a leading jewellery brand, on Wednesday announced it would invest Rs 600 crore on expansion.
Hyderabad: Kalyan Jewellers, a leading jewellery brand, on Wednesday announced it would invest Rs 600 crore on expansion. Of this, the company will invest Rs 350 crore to expand its distribution capabilities, especially in the northern and eastern regions of the country. It will spend another Rs 250 crore for the proposed entry into Qatar.
Also, the company is looking to open 14 new showrooms by March this year, taking its outlet count to 100. Of the new showrooms, seven will come up in India and the remaining will be opened in West Asia. “We have gradually expanded our footprint in the north and east regions of the country and the new launches in Rajasthan and Kolkata will further strengthen our presence.
We have also had tremendous success in West Asia and this is prompting us to enter new GCC markets, with a sizeable Indian population,” said T S Kalyanaraman, Chairman and Managing Director, Kalyan Jewellers. On the Qatar entry, he said presence in that country is critical for the company to push the Gulf’s share of turnover to a 40 per cent mark in medium-term target.