17 September 2012

Kalyan Jewellers forays in Gujarat

Embarking on a major expansion spree, leading jewelry store chain, Kalyan Jewellers, have stepped out of South India and forayed into western state of Gujarat with its first store in Ahmedabad on Sunday.
A flagship of the century old Kalyan Group, has also roped in the super star Amitabh Bachchan as its brand ambassador. Bachchan is already brand ambassador for Gujarat Tourism.
Claiming to be a market leader in the South, Kalyan Jewellers is planning to invest Rs 1000 crore this year and is likely to enter Maharashtra and other parts of Gujarat. It was also tragetting Rs 16,000 crore turnover by the end of this fiscal.
“Kalyan Jewellers enjoy a strong association and trust. The launch of our store in Gujarat underlines the importance of this dynamic market. We are hopeful that our tryst with Ahmedabad will make more jewellery aficionados appreciate the brand and its unparalleled collection," said T S Kalyanaraman, Managing Director, Kalyan Jewellers, during the inauguration company's 38th store in Ahmedabad on Sunday.
Speaking on the occasion, Bachchan said that Gujarat was like a home to him as he has received lot of love and warmth from the people of the state. He said that his association with the Kalyan brand was very recent.
Kalyan Jewellers is also likely to open three more showrooms in Rajkot, Vadodara, and Surat with an estimated investment of Rs 300 crore, by the end of this fiscal.

SOURCE: http://www.business-standard.com/india/news/kalyan-jewellers-forays-in-gujarat/486607/
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