Kalyan Jewellers has said that it will acquire the remaining 15% equity in Candere Diamonds. The company is said to have paid Rs. 42 Cr to its subsidiary Enovate Lifestyles, in which it first acquired ownership in 2017.
Candere by Kalyan Jewellers is one of India’s earliest and leading online diamond jewellery brands. For FY 2023-24, the company reported a turnover of INR 130.3 Cr (USD 15 Mn).
Sharing his sentiments on Linkedin, Rupesh Jain, Co-Founder and CEO, Candere said, “With a heart full of Gratitude I am moving on from one of the most incredible chapters of my life called Candere. From starting as a Rookie Engineer to leading our online jewellery venture as Co-Founder & CEO, the past decade has been a true whirlwind of growth and discovery in the world of jeweltech and startups.
Candere By Kalyan Jewellers has been more than just a business to me – it has been a source of inspiration and drive, shaping me into the person, leader, and entrepreneur I am today. I am immensely grateful for the experiences, challenges, and successes that have moulded me along the way.
As I look forward to new horizons, I carry with me the lessons and memories from this transformative journey. To all the stakeholders, colleagues, friends and families and supporters who have been part of this adventure, thank you for your unwavering dedication and belief.
I wish the Kalyan Jewellers team loads of luck and success for taking Candere to the next level and become one of the finest Jeweltech companies in the World with one of the best Customer Experience”.
Rupesh Jain started the venture in 2013 and later merged with Kalyan Jewellers in 2017. The firm currently has over 8,000+ diamond and gold trendy jewellery designs.
Thrissur, Kerala headquartered Kalyan jewellers ventured into jewellery retailing in 1993 in India and has over 130+ showrooms spread across India and GCC.