Kalyan Jewellers lines up Rs 135 crore investment in UP

South India-based Kalyan Jewellers has lined up investment of about Rs 135 crore to expand its footprint in the Uttar Pradesh market.

The company, which already operated a company owned retail store in Noida, on Wednesday announced to launch its 116th outlet in Lucknow.

“We have invested close to Rs 75 crore in the Lucknow outlet and by the end of this fiscal, our third UP store would materialise in Kanpur,” Kalyan Jewellers Executive Director Ramesh Kalyanaraman said.

He said UP was a big market and contributed almost 10 percent to the country’s jewellery segment, which is still dominated by the local unorganised