Lab-grown diamond label Jewelbox is planning to greatly extend its retail presence, with a goal of establishing a total of 30 physical stores by year-end, up from its existing eight locations in major cities like Delhi, Bengaluru, Chennai, and Kolkata.
This growth initiative is part of Jewelbox’s wider ‘phygital’ approach, which integrates traditional retail with cutting-edge digital features such as AI-powered virtual fittings and intelligent recommendation systems. Although online sales account for about 30% of revenue, the company highlights that its physical locations experience significantly higher conversion rates, with some stores achieving over 60% conversions in-store.
Founded with the goal of making diamonds more affordable and accessible, Jewelbox offers products at price points starting from Rs 10,000, specifically targeting first-time diamond consumers. The current product range includes over 3,500 SKUs, with 200 new designs introduced each month to encourage regular visits and repeat purchases.
With an annual revenue run rate of Rs 40 crore, the brand forecasts growth to Rs 150 crore by the following year. Kochar stressed that the expansion is based on a model that is both profitable and sustainable. Recent product launches include colorful stone-set earrings, as shared on the brand’s official Facebook page.
Jewelbox’s strategic combination of technology-driven retail and tailored in-store experiences positions it as an emerging competitor in India’s evolving diamond jewelry sector.
The brand plans to expand into Noida, Ludhiana, Mumbai, and Hyderabad, while also enhancing its presence in Delhi-NCR and Bengaluru, as stated by co-founder Vidita Kochar. “After two years, we understood that our model could be scaled effectively in a plug-and-play manner,” Kochar mentioned during her discussion with the Indian Retailer Bureau.