Kundan Gold Refinery forays into jewellery segment; invests Rs 60 cr

Kundan Gold Refinery Tuesday announced its foray into jewellery segment with an investment Rs 60 crore and launch of a new brand.

The company launched its new brand 'Zeya by Kundan' in collaboration with Swarovski and the jewellery collection is priced from Rs 2,000 onwards.

"The company has invested a sum of Rs 60 crore in its current expansion and plans to invest more in the same," Kundan Gold Refinery said in a statement.

The new brand will be first of its kind hand-crafted gold jewellery adorned with cubic Zirconia from Swarovski.

"We are glad to progress towards this major expansion in our business. This is a major milestone for us. ...With the launch of Zeya, we are aiming a newer segment of audience which is young and versatile," Kundan Group Director Vidit Garg said.

He said the company will also launch a new refinery near Delhi with the latest well-equipped and advanced technology machines. The refinery will be in operation by the end of the year.

Kundan Gold Refinery is one of the largest private gold refineries in the country. It is also a major importer of gold and silver.