This is in continuation of the company's expansion in western India where it started with setting up showrooms in Gujarat in September 2012. With its entry into Mumbai, the expansion for the financial year 2012-13 would virtually be completed. The three jewellery showrooms with over 60 per cent of ornaments with exclusive craftsmanship would be inaugurated jointly by the bollywood superstars Amitabh Bachchan and his daughter-in-law Aishwarya Rai Bachchan.
"We chalked out an investment of Rs 1000 crore for the financial year 2012-13 to roll out our business outside the south Indian market through 15 new showrooms. We are going go set up another 20 showrooms in 2013-14 with an investment of Rs 1300 crore.
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This would lead to our total turnover of over Rs 13,000 crore by the end of the next financial year from the level of Rs 10000 crore now," said T S Kalyanaraman, chairman of Kalyan Jewellers, the recently acclaimed Forbes list of billionaire.
The company plans to enter overseas markets next year especially in the Middle East, Singapore, Malaysia and Sri Lanka in addition to expand its business in tier I and tier III cities in India.