Kalyan Jewellers, India's leading directly owned jewellery chain, proposes to invest Rs 1,400 crore this fiscal to set up 28 showrooms across India and Gulf countries and would aggressively focus on affordable diamonds.
At present, Kalyan Jewellers has 55 showrooms in India and will open 17 new ones with an investment of R900 crore in the country and 11 in Gulf countries by investing R500 crore, T S Kalyanaraman, chairman & managing director, told reporters here.
Of the new showrooms planned in India, five would be in Kerala in Tier II and III towns, including Attingal, Angamally and Adoor; three in Kolkatta, two more in Mumbai and Bangalore, among others. In the Gulf, showrooms are planned at Qatar, Kuwait, Dubai, Abu Dhabi and Bahrain, he said.
The brand, which presently has six showrooms in the Gulf, will have 17 showrooms once the 11 more are opened, he said. The six showrooms opened three months ago were doing good business and the turnover, so far, had crossed R300 crore, he said.