Kolkata-based jewellery retailer Kalyan Jewellers is entering the eastern India retail territory today with the launch of an outlet in Bhubaneswar, Odisha. The is the first step in the company’s target to set up four outlets in east India during the current fiscal.
Inaugurated by brand ambassadors Amitabh Bachchan and Nagarjuna Akkineni, the 15,000 square feet store will display over two lakh jewellery products in gold and diamonds.
Kalyan Jewellers currently has 82 stores across Maharashtra, Gujarat, Delhi-NCR, Punjab and south India. In October 2014, leading private equity institution Warburg Pincus picked up a minority stake in the company for Rs1,200 crore, propelling an aggressive expansion roll-out. The company is reportedly investing Rs 800 crore this fiscal to open 20 more outlets across India and West Asia, and is targetting revenues of Rs 13,000 crore by the end of this period.