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Kalyan Jewellers to invest Rs 1,300 cr for 20 stores

PTI
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T S Kalyanaraman
T S Kalyanaraman

Kalyan Jewellers today said it is planning to open 20 new showrooms in India and overseas in the next financial year with an investment of Rs 1,300 crore.

The company expects revenue of Rs 13,000 crore in FY-14.

“We are on track with our expansion plans that will help us become a national player, and Mumbai is a major milestone in that journey. With this expansion, we are hoping for a turnover of Rs 13,000 crore in 2013-2014,” T S Kalyanaraman, Chairman, Kalyan Jewellers said here.

The company, which posted Rs 7,500-crore revenue in FY-12, is expected to close the current fiscal with Rs 10,000 crore turnover.

The Kerala based jewellery retail chain will open three showrooms in the financial capital by the end of this month, he added.

The company, which had 45 showrooms in the four southern states and Gujarat, opened 15 new stores with an investment of Rs 1,000 crore till now in the current fiscal.

The jewellery retailer has set a target to open 80 more outlets in the next three years across Tier I and II cites in India, West Asia, GCC countries, Singapore, Malaysia and Sri Lanka. Twenty of them will be opened in 2013-14.

Bollywood stars Amitabh Bachchan and Aishwarya Rai Bachchan are the brand ambassadors of Kalyan Jewellers.

(This article was published on March 15, 2013)
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