Kalyan Jewellers to invest Rs 1,000 cr to open 20 stores by 2019

Kalyan Jewellers is planning to invest Rs 1,000 cr to add 20 stores in the country. The company will first invest Rs 500 crore to open 10 new stores in the next few months – one each in Indore, Kanpur, Ranchi, Raipur, Siliguri, Guwahati and Nagpur, and three in Delhi-NCR. Then the company is also planning to open another 10 stores with an investment of Rs 500 crore in the last two quarters of FY19. The funds for this expansion will be raised through internal accruals and all the stores are company-owned. Kalyan Jewellers at present has 122 company-owned stores, of which 90 are in India and 32 are abroad. Signage companies engaging in in-store projects will able to tap fresh business opportunity with such big store expansion plan of Kalyan Jewellers.