Kalyan Jewellers begins its Rs 400 crore expansion with store in Delhi
today Oct 3, 2018
Kalyan Jewellers has started with its second phase of expansion for the year with the opening of its 9th store in the city of New Delhi. The second expansion phase involves opening of ten stores during the second half with an investment of Rs 400 crore (approx $54.6 million).
The new store is located at South Extension II, Delhi and is the largest Kalyan store in north India. The store was inaugurated by its brand ambassador Amitabh Bachchan.
T. S. Kalyanaraman, Chairman and Managing Director, Kalyan Jewellers Ltd in a statement said, “Our flagship showroom will give our customers a superior value proposition with the assurance of the best of quality and the highest service standards. With an investment of around Rs.125 crore, this showroom reiterates our commitment to growing our presence in the country.
“The launch is the beginning of the second phase of expansion for which a budget of Rs1000 crore has been earmarked for 20 showrooms during this fiscal. The expansion is being met through internal accruals, without any bank borrowings or capital dilution,” he added.
Kalyan Jewellers is expecting a 10 percent jump in its revenue to Rs 11,500 (approx $1.59 billion) this financial year.
Kalyan is one of the country’s top jewellery firms with over 100 stores in India and 32 in the Middle East countries like Kuwait, Qatar, Oman, and the UAE.
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