Kerala-based jewellery manufacturing and marketing firm Kalyan Jewellers has raised Rs 1,200 crore from Private Equity firm Warburg Pincus, which is claimed as the largest private equity investment into the jewellery manufacturing and distribution industry.
The company is planning expansion of outlets both in India and abroad eyeing a revenue of Rs 25,000 crore.
With 55 exclusive outlets in India, across South India and Maharashtra, Gujarat, National Capital Region (NCR) and Punjab, the company is looking at expanding the number of exclusive outlets in existing markets as also foray into newer regions with emphasis on the North and the West of the country.
The company has been engaged in brand building excercise with top Bollywood actors Amitabh Bachchan and Aishwarya Rai Bachchan representing the brand nationwide, since 2012.
With six exclusive outlets in United Arab Emirates, it is planning to foray into new markets in Middle East, including Kuwait and in Qatar and South East Asia including into Singapore and Malaysia. It will add over 28 new outlets in the next six months, it said.
T S Kalyanaraman, chairman and managing director, Kalyan Jewellers, said, "We are delighted to welcome Warburg Pincus as our growth partner. Jewellery is one of the largest consumption categories in India, and Kalyan Jewellers has created a unique position as one of the largest and the most trusted jewellery brands in India."
"We look forward to working with Warburg Pincus as we continue to build on our foundation and move onto our next phase of growth," he added. The company also claims that this is the largest Private Equity investment into the state of Kerala so far.
Vishal Mahadevia, managing director and Co-head India, Warburg Pincus, said, "Warburg Pincus' investment in Kalyan Jewellers is the largest private equity investment into the jewellery industry in India, and is an acknowledgment of the company's highly-talented team, its pioneering role within the industry, and its commitment to the highest levels of customer service."
Kalyanaraman, along with his sons, Rajesh Kalyanaraman and Ramesh Kalyanaraman and the entire team has built a market-leading brand and an organization of scale, he added.
Founded in 1993 and Headquartered in Thrissur, Kerala, Kalyan Jewellers is the flagship of 100-year old Kalyan Group which was started with textile manufacturing and retailing business. The company has set an ambitious target of 100 showrooms by 2016.
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