Leading Jewellery Chain Kalyan Jewellers Acquired Online Jewellery Firm
Leading jewellery chain Kalyan Jewellers today acquired the online jewellery firm Candere to augment its presence in the growing online jewellery segment for an undisclosed sum.
Kalyan will acquire the equity held by Singularity Strategic, the family office of Brijesh Chandwani and Subram Kapoor and as part of the deal the Thrissur-based company will complete a phased acquisition of the equity held by founder promoter Rupesh Jain, apart from investing more into the firm.
The additional investment is primarily to expand Canderes geographical presence into the growing West Asian market including the UAE, Kuwait and Qatar.
This is Kalyan first strategic move of its kind as it continues to pursue aggressive growth plans, both organically and inorganically.
Rajesh Kalyanaraman, exec...