Kalyan Jewellers to invest Rs 900 cr for expansion

Kalyan Jewellers has earmarked Rs 900 crore for its expansion plan during the current financial year, which includes setting up of two new showrooms in city, the company said today.

"The two showrooms, to come up in Velacherry and Anna Nagar, would take the total number of outlets in city to five with total investments of Rs 430 crore till date," the company said in a statement.

"Kalyan Jewellers has been on an aggressive expansion drive and has earmarked Rs 900 crore this financial year for expanding its distribution network in India and globally," the statement said.

The retailer has already set up six showrooms this year and is aims at opening 14 showrooms by the end of this fiscal.

Company's brand ambassadors Sonam Kapoor and Prabhu Ganesan will inaugurate the two showrooms in the city on September 25.

The two new showrooms are in large format, covering 7,500 square foot each and occupy three floors.

Kalyan Jewellers across Tamil Nadu has 20 large format showrooms and 150 mini diamond stores.

"We have opened showrooms in Anna Nagar and Velacherry to provide more accessibility to customers and strengthen our presence in Chennai," Kalyan Jewellers Chairman and MD T S Kalyanaraman said.

"Chennai contributes nearly 10 per cent of our topline revenues and we believe Kalyan has emerged as preferred jewellery brand given its relentless focus on quality, design and service," he said.

"We continue to be optimistic about our growth prospects in Tamil Nadu and have so far invested Rs 830 crore in the state. The launch also coincides with the festive season and customers can look forward to innovative offers..." he said.

Kalyan Jewellers currently has 102 exclusive showrooms in India and West Asia, it said.