Kalyan Jewellers is planning to invest over Rs 500 crore this year to expand its geographic footprint by opening 15 new showrooms.
“We gradually expanded our footprint in the Northern and Eastern regions of the country last year. We also had tremendous success in West Asia and Kalyan Jewellers has been well received after our recent foray in Qatar. We are committed to invest in growth capital including pursuing inorganic opportunities in 2017,” Chairman & Managing Director T S Kalyanaraman was quoted by PTI.
He was further quoted by PTI as saying: “Kalyan Jewellers which launched 17 showrooms in 2016, plans to invest over Rs 500 crore in 2017 towards its network expansion to open 15 new showrooms. The brand plans to foray into Central India and expand its presence in UAE and the Northern part of India”.
The company told PTI, it is also looking to augment its reach with investment in digital foray and relaunch of its purchase advance scheme, compliant with the prevailing regulations. Kalyan Jewellers will also launch new sub brands in gold, diamond and precious jewellery to cater new segments of customers.