Kalyan Jewellers acquires online jewellery firm Candere

Deal value undisclosed; Firm sees online sales making up 5-7% of its top line over next 5 years

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 in the company, to drive its next phase of business.

This is Kalyan Jeweller's first such strategic