Digital and entertainment major KSS Ltd has forayed into the jewellery retailing business under the franchise model and is looking to open 500 stores under brand ‘Bjewelz’ with a turnover of Rs 6,000 crore in three years.
‘Bjewelz’ Brand is owned by Birla Jewels Limited, a wholly owned subsidiary of KSS Ltd. The company also plans to invest Rs 100 crore over the next three years on branding and infrastructure. “Jewellery retail industry has a lot of growth potential. We will open our first two stores by end of this month in Bihar. We plan to open 500 stores under brand ‘Bjewelz’ and we are expecting a turnover of Rs 6,000 crore in three years time,” Birla Jewels Ltd Director Nikita Rattanshi told PTI. Elaborating on the company’s investment plans, Rattanshi said: “We will invest Rs 100 crore in three years. Investment will be used for infrastructure, branding, manpower, etc.”