Kalyan Jewelers has announced plans to increase its retail footprint by 13% in the first quarter of FY 2012.
The company plans to expand operations in seven states and will add 14 new showrooms on April 24, 2021.
While jewelery majors plan to expand existing operations in Tier-1 cities with five new outlets including a flagship showroom in Chennai, it also focuses on Tier-2 and Tier-3 markets by adding nine mid-size showrooms. Will do.
Kalyan Jewelers CMD, TS Kalyanraman said, “We are positive that we will promote the ecosystem and market understanding to capitalize on the foundations we have laid and leverage our already established processes.”
The company said that it has recently raised Rs 75 1,175 crore through an IPO and most of its income has been kept towards the growth of working capital.
The company said it would increase its working capital to ₹ 500 crore in the first quarter.
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