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Kalyan Jewellers to set up 22 stores in India during current fiscal

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.