Kalyan Jewellers plans Rs 1,000-crore expansion

Kerala-based gold major Kalyan Jewellers is set to expand aggressively


The chain plans to set up new stores in India and abroad, boosting expenditure to build their brand with the help of Bollywood icons Amitabh Bachchan and Aishwarya Rai. The ambitious chain, which aims a turnover of at least Rs 8,000 crore in the current fiscal, has lined up Rs 1,000 crore to Rs 1,250 crore investment for opening 25 large retail stores in India and abroad in the next financial year. Each of these stores will be spread over 5,000 square feet and employ 100 people, which will take the total staff strength of Kalyan Jewellers to 10,500 by next fiscal.

Out of 25 retail outlets that are planned, 15 will be in India and 10 will be in the Gulf region. The jeweller plans to open at least six outlets in the Gulf region before Akshay Tritiya to try and get a good pie of the business that happens during this auspicious time.