Kirtilals to invest ₹100 crores this financial year

A collection on display at Kirtilals’ jewellery outlet in Coimbatore. File photo
| Photo Credit: The Hindu

Diamond jewellery manufacturer and retailer Kirtilals plans to invest ₹100 crores in FY 24 for expansion of its retail operations and manufacturing facilities.

Suraj Shantakumar, its Director, Business Strategy, told The Hindu that Kirtilals will add five new stores this year to the existing network of 14 outlets. It recently launched Glow by Kirtilals, a separate retail chain. The first store was opened in Bengaluru and 10 more will be set up in the south and west markets. “Glow is an omni channel brand. We want to maintain flexibility in this brand to address customer needs (in different geographies). We are strong in natural diamond jewellery and this brand will also focus on the same segment. It will be expanded on franchise model,” he said.

The company registered close to ₹1,000 crores turnover last year and has invested ₹10 crores for a separate production unit for Glow. It has also expanded its existing capacity in Coimbatore and plans to scale it up.

Kirtilals has collaborated with jewellery designer Farah Khan and will sell her jewellery in its stores in the south. “We are doing it in caravan model now and will soon have her collections in all the stores. Customers look for something new and this will be another brand that we will carry,” he said. Farah Khan has six collections sold in four cities in India, apart from the US and west Asian countries.