Kerala-based Chemmanur Fashion Jewellers has revealed its plans to spend Rs 600 crore to expand its footprints across the country and abroad.

The company believes that this is the best time to establish a gold showroom as people are now buying gold as an investment. The company plans to spend Rs 600 crore in the next two year to open 50 new jewellery outlets in domestic as well in international market.

A company official, who did not want to be identified, has informed that the expansion will be financed through internal accruals and bank loans, for which the company has started negotiations.

The company would open six showrooms in Mumbai. After Vashi, it plans to roll out stores in Opera House, Goregaon, Vasai, Dombivli, and one more location which is yet to be identified, the official added.

Besides this, the company, which already has showrooms in Kuwait and Qatar, will open new outlets at Anjman in UAE, Singapore and Sri Lanka.