Page 8 - Kalyan Jewellers
Kalyan Jewellers acquires online jewellery firm Candere
Warburg Pincus -backed Kalyan Jewellers today announced the acquisition of online jewellery firm Candere (www.candere.com). The company did not disclose the value of the deal. The acquisition will augment Kalyan Jewellers presence in the growing online jewellery segment, said the company.Kalyan Jewellers will acquire the equity held by Singularity Strategic, the family office of Brijesh Chandwani and Subram Kapoor. As part of the transaction Kalyan Jewellers will complete a phase wise acquisition of the equity held by founder promoter Rupesh Jain, apart from making a significant investment into the company, to drive its next phase of business. This is Kalyan Jeweller's first strategic move of its kind as the company continues to pursue aggressive growth plans, both organically and inorganically. Established in 2013, Candere sells jewellery online in India, USA and UK. It has a portfolio of over 4,000 designs including a strong offering in the high growth diamond jewellery segment. ...
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Kalyan Jewellers on expansion mode; eyes Rs 13,000 crore business
The company plans to open 20 showrooms this financial year
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