Kalyan Jewellers gets Rs 1,200 crore investment from Warburg Pincus

The investment is to be used to expand its retail footprint and foray into new regions.
Kalyan Jewellers gets Rs 1,200 crore investment from Warburg Pincus

Kalyan Jewellers has announced that an affiliate of Warburg Pincus has invested Rs. 1200 crores in the company.

In the domestic market, Kalyan intends to add more exclusive outlets in existing markets as also foray into newer regions with emphasis on the North and the West of the country. Besides, there are plans afoot to rapidly scale up its global presence in the Middle East (foray into Kuwait and Qatar) and South East Asia (foray into Singapore and Malaysia). Kalyan will add over 28 new outlets in the next six months thus giving a boost to its distribution network significantly. The company’s customer centric approach will be enhanced by offering more choices in the bespoke design segment and strengthening its ability to offer affordable studded jewellery to the consumers.

Commenting on the development, 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 continue to be guided by our core values of integrity, transparency and customer focus that have enabled us to gain our customers’ trust over the past two decades. We look forward to working with Warburg Pincus as we continue to build on our foundation and move onto our next phase of growth.” Vishal Mahadevia, Managing Director and Co-head India, Warburg Pincus, said, “Kalyanaraman along with his sons, Mr Rajesh Kalyanaraman and Mr.Ramesh Kalyanaraman and the entire team have undoubtedly built a market-leading brand and an organization of scale. 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. We are excited to partner with the team at Kalyan Jewellers as they continue to grow the business going forward.”


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