Published On:May 3 2016
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KSS plans 500 stores under brand 'Bjewelz';eyes Rs 6k cr sales.

Digital and entertainment major KSS Ltd has forayed into the jewellery retailing business under the franchise model and is looking to open 500 stores under brand 'Bjewelz' with a turnover of Rs 6,000 crore in three years.

'Bjewelz' Brand is owned by Birla Jewels Limited, a wholly owned subsidiary of KSS Ltd.

The company also plans to invest Rs 100 crore over the next three years on branding and infrastructure.

'Jewellery retail industry has a lot of growth potential. We will open our first two stores by end of this month in Bihar. We plan to open 500 stores under brand 'Bjewelz' and we are expecting a turnover of Rs 6,000 crore in three years time,' Birla Jewels Ltd Director Nikita Rattanshi told PTI.

Elaborating on the company's investment plans, Rattanshi said: 'We will invest Rs 100 crore in three years. Investment will be used for infrastructure, branding, manpower, etc.'

On expansion, she said: 'We plan to open around 70 stores this year. The idea is to convert the jewellers in the un-organised market into branded shops of Bjewelz. Our focus is on opening stores in tier 2-3 cities.'

The company is eying Rs 200-250 crore turnover this year, she added.

The company also operates its e-commerce portal under the brand www.Cherishgold.Com.

BS


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