Brands
Candere buy to help Kalyan Jewellers add 5-7% to its topline
MUMBAI: Kalyan Jewellers, one of India’s trusted and leading jewellery brands, announced the acquisition of online jewellery firm Candere. The acquisition will augment Kalyan Jewellers presence in the growing online jewellery segment in India.
Kalyan will acquire the equity held by Singularity Strategic, the family office of Brijesh Chandwani and Subram Kapoor. This is Kalyan Jeweller’s first strategic move of its kind as the company continues to pursue aggressive growth plans, both organically and inorganically.
Established in 2013, Candere sells jewellery online in India, USA and UK. It has a portfolio of over 4,000 designs including a strong offering in the high growth diamond jewellery segment. This transaction will help Kalyan establish a strong presence in the ecommerce segment to complement its vast physical retail presence.
Following the acquisition, Candere will be “powered by Kalyan Jewellers” as it continues to build resonance with existing and potential online jewellery shoppers. Kalyan Jewellers will significantly boost Candere’s customer offerings by virtue of its depth of merchandise, which caters to different market segments and customer tastes.
Post Investment, Kalyan plans to launch some of its established sub-brands like Glo, Antara, Anokhi, Nimah, through the Candere online store. Through this investment, Kalyan will also be able to expand Candere’s geography into the growing West Asian market including UAE, Kuwait and Qatar thus augmenting Candere’s existing coverage.
Kalyan will leverage its vast network of 105 showrooms and distributed supply chain across India and West Asia to enhance Candere’s fulfillment layer and work towards creating a robust online-offline hybrid customer experience.
Kalyan Jewellers executive director Rajesh Kalyanaraman said, “Candere’s recent foray into UK and USA markets also helps Kalyan augment its ambition of becoming a global Indian brand. Both companies have strong design and manufacturing capabilities and the synergies therein will help strengthen our offering to existing as well as new customers. The integrated offline and online offering will provide customers more flexibility and convenience while enhancing their shopping experience.”
“We believe that the online jewellery market offers tremendous growth potential and expect it to contribute 5-7% of our topline over the next five years. The acquisition will also accelerate contribution of our global revenues.’’
Founder-promoter Rupesh Jain said, “Kalyan is a formidable jewellery brand and Candere will be able to scale up rapidly by using Kalyan’s strong supply chain network and physical presence. The integration will also provide up selling and cross-selling opportunities and bolster revenues.’’
Brands
Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
