Kalyan Jewellers yesterday announced that an affiliate of Warburg Pincus has made an investment in the leading retailer to the tune of Rs. 1200 crore. Warburg Pincus is a leading global private equity firm with more than US$39 billion in assets under management.

Presently, Kalyan Jewellers has a network of 55 exclusive outlets in India and six exclusive outlets in the United Arab Emirates “designed to provide customers with a unique, premium shopping experience” says the retailer.

With leading stars Amitabh Bachchan and Aishwarya Rai Bachchan as its brand ambassadors since 2012, the jeweller has managed to build a strong recall value to its name.

The retailer says it is currently following a two-pronged strategy: “In the domestic market, the company plans to enhance the number of exclusive outlets in existing markets as also foray into newer regions with emphasis on the North and the West of the country. Kalyan also plans to rapidly scale up its global presence in the Middle East (foray into Kuwait and Qatar) and South East Asia (foray into Singapore and Malaysia). Kalyan will add over 28 new outlets in the next six months enhancing its distribution network significantly”.

With this strategy, and backed by the hefty investment, Kalyan is looking at achieving revenues of Rs. 25,000 crore.

“We are delighted to welcome Warburg Pincus as our growth partner,” said T S Kalyanaraman, Chairman and Managing Director, Kalyan Jewellers. “Jewellery is one of the largest consumption categories in India, and Kalyan Jewellers has created a unique position as one of the largest and the most trusted jewellery brands in India.”

Warburg Pincus’ Managing Director and Co-head India, Vishal Mahadevia commented, “Warburg Pincus’ investment in Kalyan Jewellers is the largest private equity investment in the jewellery industry in India, and is an acknowledgment of the company's highly-talented team, its pioneering role within the industry, and its commitment to the highest levels of customer service. We are excited to partner with the team at Kalyan Jewellers as they continue to grow the business going forward.”