Lab-grown jewellery start-up Jewelbox plans to open five stores in Bengaluru by the end of CY25, following the launch of its first store in Jayanagar. The company considers South India a significant market and expects nearly 40 per cent of its revenue to come from the region.
“Bengaluru has been one of our highest-performing cities. The city has a large base of well-educated professionals who understand the category and prioritise convenience. People here are also very hands-on with e-commerce, which makes it an ideal market for our brand,” said Vidita Kochar, co-founder of Jewelbox.
Expansion plans in Bengaluru
Describing expansion plans beyond Bengaluru, Kochar told businessline that the company aims to reach 20-25 stores by year-end. “We are targeting the launch of at least two stores every month and plan to have 25 stores operational by the end of the year,” Kochar added. Currently, 40 per cent of Jewelbox’s orders come from online.
Beyond Bengaluru, Jewelbox is eyeing Hyderabad and Mumbai as its next key markets. “We are seeing strong website traffic and order traction from Mumbai, making it a high-priority city for expansion,” Kochar said.
The company looks to explore a mix of COCO (Company-Owned, Company-Operated) and FOCO (Franchise-Owned, Company-Operated) models to scale operations. “We want franchisees to have ownership but without complete control over management and operations. Maintaining control over customer experience and brand identity remains a priority for us,” she explained.
Further, the start-up projects an annual recurring revenue (ARR) of ₹150 crore by the end of this calendar year and aims to reach ₹180 crore by the end of the next financial year, Kochar stated.
Founded in 2022 by Vidita Kochar Jain and Nipun Kochar, operates as a multi-channel retailer with both physical stores and an e-commerce platform.