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News

Indian jeweller secures investment for expansion

  • Author:Tina
  • Source:Yadao
  • Release on :2014-10-21

New York-based Warburg Pincus is investing $196 million in Kalyan Jewellers of India as the company seeks to expand its global reach.

In a press release, private equity firm Warburg Pincus said Kalyan is planning to open 28 outlets over the next six months to enhance its distribution network locally and abroad. The company plans to scale up its presence in the Middle East and Southeast Asia, it added.

Founded in 1993, Kalyan has become one of the largest jewellery manufacturers and distributors in India, the company said. Presently, it has a network of 55 local outlets and six shops in the United Arab Emirates.

“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 [the country]. We look forward to working with Warburg Pincus as we continue to build on our foundation and move onto our next phase of growth,” TS Kalyanaraman, chairman and managing director of Kalyan Jewellers, was quoted as saying.