Kirtilals to Invest INR 100 Crores in Expansion; Unveils Glow by Kirtilals Retail Chain
KIRTILALS TO INVEST INR 100 CRORES IN EXPANSION; UNVEILS GLOW BY KIRTILALS RETAIL CHAIN
22nd June 2023
Diamond jewelry manufacturer and retailer, Kirtilals, has announced its ambitious plans for expansion, unveiling a significant investment of INR 100 crores in the upcoming financial year (FY 24). This substantial investment aims to bolster Kirtilals’ retail operations and manufacturing facilities, solidifying its position as a leading player in the industry. Furthermore, the company plans to augment its existing network of 14 outlets by opening five new stores, thereby enhancing its market presence
To diversify its offerings and capture new market segments, Kirtilals recently launched a separate retail chain known as “Glow by Kirtilals.” In line with their strategic vision, the inaugural Glow store was successfully inaugurated in Bengaluru. Demonstrating their commitment to growth, Kirtilals plans to establish an additional ten Glow stores across the vibrant southern and western markets. Notably, Glow is positioned as an omni-channel brand, emphasizing the company’s dedication to providing a seamless and adaptable shopping experience that caters to the diverse needs of customers in various geographic locations.
Suraj Shantakumar, Kirtilals’ Director of Business Strategy, elaborated on the brand’s philosophy, stating, “Glow is an omni-channel brand. We aim to maintain its versatility to effectively address customer requirements across different geographies. As experts in natural diamond jewelry, we will also channel our strengths into the Glow brand, focusing on the same segment. The expansion of Glow will be facilitated through a franchise model, ensuring its widespread availability.”
With a turnover of approximately ₹1,000 crores achieved in the previous year, Kirtilals has exhibited its commitment to innovation and growth by investing ₹10 crores in establishing a dedicated production unit exclusively for the Glow brand. Moreover, the company has significantly expanded its existing manufacturing capacity in Coimbatore and plans to further scale it up, solidifying its position as a frontrunner in the industry.
In a strategic move to enhance its offerings and captivate discerning customers, Kirtilals has forged a collaboration with the acclaimed jewelry designer, Farah Khan. As part of this partnership, Kirtilals will showcase Farah Khan’s exquisite jewelry collections in their stores located in the southern region. Currently adopting a caravan model, the collaboration is set to expand rapidly, with plans to make Farah Khan’s exclusive collections available in all Kirtilals stores in the near future. Suraj Shantakumar expressed his excitement about this collaboration, stating, “Customers constantly seek fresh and unique options. Farah Khan’s collections will provide another captivating brand that we proudly carry.” Farah Khan’s designs, renowned for their elegance and craftsmanship, are already available in four Indian cities, as well as the United States and various countries in West Asia, further enhancing Kirtilals’ offerings to its discerning clientele.