Kalyan Jewellers

Mega expansion plans

Kalyan Jewellers will set up shop in Delhi, opening three showrooms next month, and closing the financial year with 61 showrooms.

In FY15, it intends to set up 19 showrooms – nine abroad and 10 in India – with a ₹1,000-crore investment.

“These would mostly be across the Gulf region, in Kuwait and Dubai.

We are also venturing into Qatar and Bahrain. In India, we will open showrooms in Ahmedabad, Pune, Kolkata and Jalandhar among others places,” said Ramesh Kalyanaraman, confirming the development.

Kalyan Jewellers, which entered the jewellery retailing business in 1993, will invest about ₹40-50 crore per showroom.

The unlisted company expects to close this year with a ₹9,400-crore turnover, and ₹15,000 crore next year.

SOURCE: http://www.thehindubusinessline.com