AZB & Partners Advised Kalyan Jewellers On Acquisition Of Enovate Lifestyles
AZB & Partners advised Kalyan Jewellers India Limited to fully acquire Enovate Lifestyles Private Limited (running the
AZB & Partners Advised Kalyan Jewellers On Acquisition Of Enovate Lifestyles
AZB & Partners advised Kalyan Jewellers India Limited to fully acquire Enovate Lifestyles Private Limited (running the online Jewellery platform under the brand “Candere”).
Kalyan Jewellers India Ltd has officially announced the signing of a definitive agreement with Rupesh Jain, the Founder of Enovate Lifestyles Pvt. Ltd. to acquire his remaining 15 percent stake in Candere, a subsidiary of Kalyan Jewellers.
With this stake acquisition, valued at Rs 42 crores, Candere will become a wholly-owned subsidiary of Kalyan Jewellers, Marking a Strategic shift from e-commerce to omnichannel commerce. Kalyan Jewellers initially acquired a majority stake in Candere in 2017 as part of its entry into the e-commerce sector.
Established in 2013, Candere has been a prominent player in the fast-growing affordable and accessible jewellery segment. Following its acquisition by Kalyan Jewellers, the brand has demonstrated consistent progress in its offerings, customer preference, and presence across leading marketplaces.
The AZB deal team, led by Partner Varun Lamba, with support from Senior Associate Shubham Toshniwal, facilitated the transaction.
Partners Abhinav Ashwin and Aditya Singh Chandel, and Associate Akshat Jain assisted on tax related aspects.