Jewelbox plans to add 25 stores next year; eyes Rs 150 crore revenue in FY26 – ET Retail



Jewelbox co-founder Vidita Kochar

New Delhi: Jewelbox, a lab-grown diamond jewellery brand is planning to add 25 more stores in 2025, expanding its offline presence from the current 8 stores, Vidita Kochar, co-founder of the company, said in an interview with ETRetail.

With the current expansion plans, the company aims to achieve Rs 150 crore in revenue by FY 2025-26. This ambitious target comes on the heels of a 275 per cent growth in monthly revenue compared to the previous year.

In FY22-23, the company reported Rs 3.8 crore in sales. This number has significantly increased in FY23-24, with Jewelbox recording Rs 5.2 crore in sales by October 2023, already surpassing its previous year’s performance. In October 2023 alone, Jewelbox achieved Rs 97 lakh in sales, showcasing its accelerating growth trajectory.

While currently, 60 per cent of its revenue comes from offline channels, the brand’s online sales contribute 40 per cent of its total revenue. However, the brand expects online volumes to be 30 per cent within the next two years.

Kochar emphasized the brand’s commitment to making fine jewellery accessible to Indian consumers. She noted that the lab-grown diamond segment, where Jewelbox specializes, has gained significant traction, especially among younger generations. “Our goal is to fulfil the aspirations of Indian consumers while offering sustainable jewellery options from a vast design range,” she said.

The company is profitable at both EBITDA and PAT levels, Kochar said. To fuel its next phase of growth, Jewelbox is in talks to raise more funds to expand its design portfolio and geographical footprint.

Currently, the brand has a franchise-owned store and the rest company-owned stores, but it plans to balance it with a 50:50 ratio of company-owned and franchise-owned stores. Further, it plans to focus on high streets and malls, targeting consumers of all age groups by leveraging the growing interest in lab-grown diamonds and strategically expanding its presence.

  • Published On Dec 30, 2024 at 10:05 AM IST

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