KSS Limited – formerly known as K Sera Sera Ltd. – yesterday announced that it would be entering the jewellery retail business with Bjewelz stores, through its wholly owned subsidiary Birla Jewels Ltd.

The first outlet, the Company said, will be opened in Patna; soon to be followed by 70 outlets which are being planned in cities like Mumbai, Ahmedabad, Gwalior etc in the first phase. Eventually, the Company aims to launch 500 outlets across the country over the next three years.

Saying that it was “bullish” about the new venture, KSS Ltd. indicated that it was eyeing a turnover of Rs. 6,000 crore in just two years time.

“KSS Limited, with a focus on metro and tier 2 cities, will be investing over Rs. 100 crs in marketing and promotional activities of the brand,” the Company announced in a press note.

Satish Panchariya, Group Chairman – KSS Ltd. commented: “The organised retail gems and jewelry industry in India has been witnessing a steady growth over the last few years, because of which we sensed a viable opportunity for Birla Jewels Ltd to make a foray into the sector. Opting for a franchisee based model, our aim is to truly revolutionise the sector by building strong, trusted relationships with our partners. By building brand ‘Bjewelz’, the aim is to be recognised as one of the top three jewellery retail chains in the country over the next three years.”

Speaking on the launch Nikita Rattanshi, Director at Birla Jewels Ltd. added: “Apart from building a brand that truly resonates with the modern and contemporary Indian woman, ‘Bjewelz’ will provide our customers with a world-class retail ambience, which is so essential to in-store jewellery purchasing. Our format is designed to not push the product to our customers, rather create a brand that sells on its own credibility.”

KSS Ltd. said that while Birla Jewels Ltd. will mainly work on a franchisee based model and “explore opportunities with various partners across the country for the expansion of Bjewelz”,  it will set up a company-owned store in Ahmedabad.

Interestingly, the Mumbai-based KSS Ltd., apart from being listed on the BSE and NSE is also listed on the Luxembourg Stock Exchange. It also has large and varied interests in the film and entertainment business.