Kalyan Jewellers to set up 22 stores in India during current fiscal
In this article (4)
US-based PE fund Warburg Pincus-backed Kalyan Jewellers to invest around INR800 crore (INR8 billion, USD128.3 million) during the current fiscal. The Kerala-based jewellery brand said that it will open 22 showrooms during the current fiscal.
T S Kalyanaraman, chairman and managing director, Kalyan Jewellers, who was in Chennai to announce Kalyan Jewellers new showroom, which he claims is the world’s largest jewellery showroom, said that with the new showroom in Chennai number of Kalyan Jewellers showroom will be increased to 78 and by end of this fiscal this it will be increased to 100.
The new showroom, which will spread over in 40,000 sq ft in Chennai, was set up at a cost of around INR200 crore. “This will be the largest investment by us in a single store,” said Ramesh Kalyanaraman, executive director, Kalyan Jewellers.
Questions & Answers
Q.How much is Kalyan Jewellers planning to invest in its expansion during the current fiscal year?
How much is Kalyan Jewellers planning to invest in its expansion during the current fiscal year?
Kalyan Jewellers intends to invest around INR800 crore, which is equivalent to INR8 billion or USD128.3 million, during the current fiscal period for its expansion plans.
Q.How many new showrooms will Kalyan Jewellers open in India by the end of the current fiscal?
How many new showrooms will Kalyan Jewellers open in India by the end of the current fiscal?
The company plans to open 22 new showrooms across India during the current fiscal. This will bring their total number of showrooms to 100 by the end of the period.
Q.What is the cost and size of the new Chennai showroom?
What is the cost and size of the new Chennai showroom?
The new showroom in Chennai covers an area of 40,000 sq ft and was established at an approximate cost of INR200 crore. This represents their largest single-store investment.