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Indian jeweller expands

Indian jeweller Kalyan Jewellers plans more store openings across the Middle East and Southeast Asia.

In the UAE alone, seven new stores will be opened simultaneously in December, each between 2000 sqft and 4000 sqft.

Domestically, it will open 11 new stores before the year ends including a store in Ludhiana opening this month.

It says it won’t be affected by the curb on gold imports.

“On July 22, Reserve Bank of India had insisted on exporting 20 per cent of the gold imported. As we have store openings in the Middle East, this would be beneficial to us – we will be exporting 20 per cent to our stores overseas,” said chairman and MD TS Kalyanaraman.

The jeweller also plans to open stores in Singapore and Malaysia.

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