Kochi | Leading jewellery chain Kalyan Jewellers is planning to invest Rs 800 crore on expansion and take its showroom count to 100 by the next fiscal. The kerala-based group has earmarked about Rs 800 crore for the coming fiscal towards the enhancement of its distribution network both in the country and abroad, Kalyan Jewellers said in a statement.
It would be the largest investment by the company, which has identified Chennai, Kolkata, Bhubaneshwar among the new markets for expansion along with Qatar in the Middle East.
The company is planning to expand its existing distribution network by nearly 30 per cent and attaining a milestone of 100 showrooms during the course of the next financial year, the statement said. Commenting on it, Kalyan Jewellers Chairman and Managing Director T S Kalyanaraman said: We are committed to continue the momentum gained in our distribution network with forays into new markets as also consolidating our position in existing markets.
It would also enhance its presence in the exisiting markets as Kerala, Maharashtra and the National Capital Region (NCR). The company will also have an aggressive launch in Qatar later this year following its successful launch in Kuwait last year. Kalyan Jewellers has already been operational in United Arab Emirates for over a year, it said.
It further said that the group has secured an investment of USD 200 mn (Rs 1200 crore) by leading global private equity Warburg Pincus, which is the largest foreign investment in the jewellery sector.
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