Kalyan Jewellers plans 21 new stores by end-2011

HYDERABAD - Kalyan Jewellers, a leading jewellery chain in south India that counts actors Mammootyy, Prabhu and Shivrajkumar as brand ambassadors, has planned 21 new stores and double turnover to Rs.6,000 crore ($1.3 billion) by the end-2011.

The group chairman, T. S. Kalyanaraman also announced an entry into Andhra Pradesh with the first store here Dec 16 and signed popular Telugu film actor Nagarjuna as the brand ambassador for the state.

The retailer also has plans to extend its business to northern states and also set up stores abroad.