South India’s jewellery retail chain Kirtilals is expanding its infrastructure and sees the company revenues going up to Rs 600 crore this year from Rs 500 crore it registered last year.

The Director of Kirtilals, Mr Suraj Santakumar, said, “The high gold prices had initially dampened the spirits of jewellery buyers. But the business is back to normalcy. We expect to sustain the growth momentum.”

Speaking to Business Line at their Hyderabad store, Mr Suraj said the company, which has a chain of about 10 stores in the country and a manufacturing facility at Coimbatore, is in the process of expanding the existing outlets. It also plans to set up new ones South India.

Due to high gold prices, the pattern of jewellery has undergone some changes. While retaining the traditional patters we offer jewellery that meets the people’s aspirations by making them lighter. The Indian festive season and weddings and casual shopping continues to attract people, he said.

With a huge population in the younger age group, the company is seeking to consciously address their requirements while retaining the classic designs.

“We are offering a discount of about Rs 9,000 on one carat of diamond . All our jewellery with a certain size of diamonds are eligible for this discount. This offer is valid up to August 15,” he said. Kiritlals’ supply chain is handled from mines to market as the group sources quality diamonds directly from its Group company and DTC sight holder, Eurostar. Due to economic recession, Kirtilals could bargain for better prices for diamonds and this is being passed on to consumers, he said.

> rishikumar.vundi@thehindu.co.in

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