Kalyan Jewellers, one of the region’s most trusted and leading jewellery brands, announced yesterday that an affiliate of Warburg Pincus, a global private equity firm focused on growth investing, is investing QR280.5m taking the total investment to QR953.7m in the Company.
The second round of investment comes at a time when the Company is looking to grow its distribution network exponentially in India and expand its overseas operations. In the next three years, Kalyan Jewellers will build its presence in the central region of the country including Uttar Pradesh and Madhya Pradesh and add new showrooms in Mumbai, Delhi and the Southern region. Kalyan is also looking to expand international operations by entering into new markets such as Saudi Arabia, Bahrain, Oman, Singapore and Malaysia. The Company will also bolster its presence in the UAE where it already has 13 showrooms.
In 2014, an affiliate of Warburg Pincus invested QR673.2m in Kalyan Jewellers marking the highest investment in the jewellery sector in the country.
Over the past three years, Kalyan has nearly doubled its retail presence in India and West Asia to 105 showrooms.
