Creador invests $21.7m in India’s PC Jeweller

The investment was made through Idria, an affiliate of Creador II, which closed at $300 million in August last year before taking an additional commitment that brought the total up to $330 million.

Founded in 2005, PC Jeweller focuses on diamond and global jewellery retail. It has 50 large format showrooms across 42 cities in India with a retail footprint of 310,000 square feet. In addition to domestic retail, PC Jeweller also exports hand-made designer jewellery. It has recently launched an e-commerce platform - wearyourshine.com - to tap the youth segment and impulse purchases.

"Over the past 10 years, PC Jeweller has developed excellent service standards with several unique customer value propositions. It provides a wide range of gold and diamond jewellery at competitive prices, keeping the customer buying behaviour in mind," Creador noted in a statement.

The company reported 46% compound annual growth rate in profit after tax between financial years 2010-2014, driven by an increasing proposition of domestic sales and diamond mix. It has an average return on equity (ROE) of 34.7% over the last five years.

With the new investment, the company plans to expand in metros, tier I and tier II towns with a target of opening 20 new showrooms every year over the next five years.

Creador said this is the 15th investment of the PE firm. It's also Creador's sixth deal in India. Early this month, the GP paid INR1 billion for a minority stake in Ashiana Housing, an India-listed property developer.

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• Topics
• South Asia
• Consumer
• PIPEs
• India
• Consumer
• Creador
• PIPE
• Growth capital