KRIZZ TO OPEN 53 B2B STORES IN 2015- 17

The Asian Age - - Business - AGE COR­RE­SPON­DENT

Chen­nai- based gold jew­ellery man­u­fac­turer, Krizz has set an ag­gres­sive ex­pan­sion plan to open 53 busi­ness to busi­ness stores in 2015- 17 with in­vest­ment of around ` 1,000 crore. The com­pany is tar­get­ing a rev­enue of ` 20,000 crore by 2020, as part of its am­bi­tious ex­pan­sion strat­egy.

The com­pany right now has 900 re­tail­ers who buy gold jew­ellery from Krizz and is ex­pect­ing to have 20,000 re­tail­ers in over three to four years. “In the first phase we will be in­vest­ing ` 400 crore for set­ting up eight flag­ship stores in Chen­nai, Delhi, Hy­der­abad, Dubai and Mum­bai among oth­ers. Around ` 580 crore will be in­vested in set­ting up the rest of the stores all over the coun­try,” said Krizz, CMD, Bhu­pesh Jain.

The com­pany opened its first B2B jew­ellery show­room in the Delhi on Thurs­day and will open next store in Mum­bai. It also op­er­ates show­rooms in Chen­nai and Ahmed­abad. Out of the 53 B2B stores planned, three will be in for­eign lo­ca­tions: Dubai, Sin­ga­pore and Malaysia.

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