Hyderabad: Leading jewellery chain Lalithaa Jewellery, which inaugurated its second store in Hyderabad on Thursday, plans to open 10 new stores in the coming one year, according to a top official.
Speaking to the media, Lalithaa Jewellery's chairman and managing director M. Kiran Kumar said, "In the coming year, we plan to open 10 new outlets taking our store count to 33. Of the 10 stores, five will be coming up in the state of Telangana. However, the next two outlets, which will be inaugurated by October, will be coming up in Tamil Nadu and Andhra Pradesh."
Mr Kiran Kumar added that the chain is looking to open new stores in Andhra Pradesh at Bhimavaram and Kakinada. But he refused to divulge the locations that the company is looking at in Telangana.
When asked about the investment for the store in Kukatpally, Mr Kiran Kumar said that they have invested around Rs125 crore. “Depending upon the fluctuation in the price of gold and the stock size, the investment varies for store to store.”
