Funding Kalyan Jewellers in Expansion Mode as They Look to Expand Business Abroad By Fabnewz Team Posted on January 5, 2017 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Kalyan Jewellers, which is often described as India’s biggest jewellery store chain, is once again in an expansion mode as it plans to invest over Rs. 500 crores in 2017 in an effort to increase its network not only in India but across the globe to add to its existing global footprint. The group, owned by the Kalyan Group, will open 15 new showrooms mostly in Northern and Central India. Besides these domestic thrusts, the group will look to expand to the UAE as well. The jewellery group is looking to expand both in India and abroad Kalyan Jewellers will also seek to invest more in the online jewellery segment as more and more of the business conducted in the jewellery sector migrates online. This renewed digital foray will also see the revival of the purchase advance scheme that has flourished under current conditions. Lastly, the group will also launch three new brands specialising in gold, diamonds and precious jewellery to ensure that future customers are catered to and eclectic tastes are met and satisfied. Around 1.6 million customers are served by the jewellery group each year. T.S. Kalyanaraman, Chairman and Managing Director of Kalyan Jewellers, was quoted as saying, “We have gradually expanded our footprint in the North and East regions of the country during the last year. We have also had tremendous success in West Asia and Kalyan Jewellers has been well received after our recent foray in Qatar. The brand strategy of investing in sub-brands including Mudhra, Anokhi, Glo and our Arabic collection Ameera has worked well with the customers. We are committed to investing in growth capital including pursuing inorganic opportunities during 2017”, as reported here. The group also looks forward to focusing on the Middle East and has planned to launch seven new showrooms in Qatar and one each in Dubai and Kuwait as well. These will boost its current presence in the UAE as well. At this moment, a manufacturing facility in Sharjah’s free-trade zone is owned by Kalyan Jewellers which produces 150 to 200 kilos of fine jewellery. Kalyan Jewellers is endorsed by celebrities including Amitabh Bachchan, Sushmita Sen and Aishwarya Rai. The jewellery brand is estimated to be worth a whopping $1 billion, as described in this report. It currently employs 8000 people and boasts of 79 showrooms across India. The group was established in 1993 and began operations in Thrissur, Kerala.