The firm has blamed a section of unnamed competitors as well as maleficent parties
Kalyan Jewellers at present has 122 company-owned stores, of which 90 are in India and 32 are in the Middle East, including Kuwait, Qatar, Oman and the UAE
The company, which already operated a company owned retail store in Noida, on Wednesday announced to launch its 116th outlet in Lucknow
The company sees huge potential in the Middle East, especially Dubai
Warburg Pincus -backed Kalyan Jewellers today announced the acquisition of online jewellery firm Candere (www.candere.com). The company did not disclose the value of the deal. The acquisition will augment Kalyan Jewellers presence in the growing online jewellery segment, said the company.Kalyan Jewellers will acquire the equity held by Singularity Strategic, the family office of Brijesh Chandwani and Subram Kapoor. As part of the transaction Kalyan Jewellers will complete a phase wise acquisition of the equity held by founder promoter Rupesh Jain, apart from making a significant investment into the company, to drive its next phase of business. This is Kalyan Jeweller's first strategic move of its kind as the company continues to pursue aggressive growth plans, both organically and inorganically. Established in 2013, Candere sells jewellery online in India, USA and UK. It has a portfolio of over 4,000 designs including a strong offering in the high growth diamond jewellery segment. ...
The company plans to open 20 showrooms this financial year