Jewellery manufacturer Kanishk Gold plans to set up a chain of B2B (business-to-business) outlets under the brand Krizz B2B, with the first one be launched tomorrow in Chennai. The showroom will showcase 350 kg of jewellery in over 4,000 designs.

The company, which set up its manufacturing facility at Chengalpattu (south of Chennai) in 2010, has been supplying to many leading retailers in all major cities. “We believe setting up of B2B showrooms in Tier-I and Tier-II cities will enable us to reach more retail outlets with ease,” said Bhupesh Jain, Chairman and Managing Director of the company.

According to him, retailers usually place orders through distributors and get them delivered at their stores. But, for the first time in the organised sector, Krizz B2B outlets will display and stock a range of jewellery to facilitate retailers to come and pick up designs and patterns of their choice personally.

In the first phase, Krizz will set up 37 such showrooms in all major cities in the country, and one each in Dubai, Singapore and Malaysia, at an overall investment of ₹1,000 crore in the next 2-3 years. “We will fund the project from internal accruals and debt. We are also in talks with a couple of private equity firms for funding,” Jain said.

Kanishk Gold has a capacity to manufacture 3.5 tonnes of jewellery. However, the capacity utilisation is around 30 per cent. Last year the turnover was ₹1,800 crore.

“With the new plan, we hope to attract more retailers by ramping up our utilisation to at least 60 per cent in the first year and then to 80 per cent over a period,” said Jain.

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