Light gold jewellery expert Krizz to invest 100 crore in Gujarat

Ahmedabad

Leading gold jewellery manufacturer, Krizz, a unit of Kanishk group, which has the distinction of making the lightest jeweleries of the precious yellow metal, today said that it would invest Rs. 100 crore in Gujarat this year.

The company with its sole hi tech jewellery manufacturing unit in Chennai also said that it was exploring possibility to set up another such plant in Gujarat.

Chairman cum Managing Director (CMD) of the company, Mr. Bhupesh Jain today said his company has planned to set up four business to business (B2B) showrooms in Gujarat with an estimated investment of Rs 100 crore. ‘The first one would be opened up in Ahmedabad tomorrow and the remaining three in Vadodara, Rajkot and Surat would be functional by the end of this financial year. It would be a part of our Rs, 1200 crore worldwide investment plan to set up a total of 50 such showrooms in India and 3 abroad (Dubai, Singapore and Malaysia) in the next two years. The showrooms would be categorized in four categories depending upon the size and investment and the city where it would be located. From Gujarat we expect an annual business to the tune of Rs, 400 to 500 crore in the coming time,’ the CMD said.

Mr. Jain later told UNI that he was quite optimistic about the jewellery business in coming days. The capacity of his Chennai plant would reach around 100 kg of finished goods per day by the time the above mentioned plan completes. ‘We are also exploring possibility to set up another such plant in Gujarat. Some paperwork is going on but so far nothing concrete has taken shape. Once it happens we would let everybody know,’ Mr. Jain said.

He also stressed the need to organise and fully mechanise the jewellery making business with the help of the available modern technology and hi-tech tools.

DeshGujarat