Kerala-based Chemmanur Fashion Jewellers plans to invest Rs 600 crore to expand its operations across the country and abroad, a top company official said.
Chemmanur Fashion Jewellers, the world’s first jewellery group with BIS and ISO certification for quality, is the leading and fastest growing jewellery company.
“We plan to invest Rs 600 crore in next two year’s period to open 50 new jewellery showrooms across the country and abroad,” Chemmanur Fashion Jewllers Chairman and Managing Director, Boby Chemmanur told reporters here.
The project will be financed through internal accruals and bank loans, for which the company has started negotiations, Mr. Chemmanur said.
This is the best time to set up a gold showroom as people are now buying gold as an investment. Earlier, it was just worn as ornaments, he said.
The company has also identified plans to open six showrooms in Mumbai. After Vashi, we plan to open stores in Opera House, Goregaon, Vasai, Dombivli, and one place which is yet to be identified.
“We are also opening new showrooms at Ajman in UAE, Singapore and Sri Lanka,” Mr. Chemmanur said, adding that the company already has showrooms in Kuwait and Qatar.
