KSS Limited announces foray in jewellery retail business with ‘Bjewelz’
KSS Limited, listed at BSE, NSE and Luxembourg Stock Exchange, on May 3rd, 2016 announced its entry in the jewellery retail business with the launch of ‘Bjewelz’ under its wholly owned subsidiary Birla Jewels Ltd. With the first outlet slated to open in Patna, the company is bullish on its expansion plan of launching 500 outlets across the length and breadth of the country over the next 3 years. By virtue of this foray in the jewellery retail segment, KSS Ltd. is eyeing a turnover of Rs. 6000 crore in 2 years. With around 70 outlets being planned in cities like Mumbai, Ahmedabad, Patna, Gwalior, etc, Bjewelz is all set to bring a revolution in the retail jewellery segment. Focusing on expanding its reach to the larger set of masses in the retail market, Bjewelz offers the largest collection of modern, conventional and contemporary jewellery products at affordable prices. KSS Limited, with a focus on metro and tier II cities, will be investing over INR 100 crs in marketing and promotional activities of the brand. Commenting on the launch, Satish Panchariya, Group Chairman – KSS Ltd. says, “The organized retail gems and jewelry industry in India has been witnessing a steady growth over the last few years, because of which we sensed a viable opportunity for Birla Jewels Ltd to make a foray into the sector. Opting for a franchisee based model, our aim is to truly revolutionize the sector by building strong, trusted relationships with our partners. By building brand ‘Bjewelz’, the aim is to be recognized as one of the top 3 jewelry retail chains in the country over the next 3 years.” Speaking on the launch Ms. Nikita Rattanshi, Director at Birla Jewels Ltd. added, “Apart from building a brand that truly resonates with the modern and contemporary Indian woman, ‘Bjewelz’ will provide our customers with a world-class retail ambience, which is so essential to in-store jewelry purchasing. Our format is designed to not push the product to our customers, rather create a brand that sells on its own credibility. With a rather unique collection of designs which have been carefully crafted, we hope that ‘Bjewelz’ becomes the preferred partner of choice when it comes to jewelry purchasing in India.” With a company owned store in Ahmedabad, Birla Jewels Ltd. will be following franchisee based model and will explore opportunities with various partners across the country for expansion of Bjewelz.