Kalyan Jewellers to invest Rs 500 cr for its expansion in 2017

Kalyan Jewellers, an Indian jewellery store chain by Kalyan group, has planned to invest over Rs 500 crore this year to expand its geographic footprint by opening 15 new showrooms.

T S Kalyanaraman, Chairman and Managing Director, Kalyan Jewellers, said, "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.”

He further said: "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 said 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, which operates over 100 stores, will also launch new sub brands in gold, diamond and precious jewellery to cater new segments of customers, the company added.