Jewelbox plans to reach 30 brick-and-mortar store total this year

Lab-grown diamond label Jewelbox is aiming to expand its brick-and-mortar footprint to 30 stores by the end of the year, building on its current network of eight outlets across key metros including Delhi, Bengaluru, Chennai, and Kolkata.

“We’re entering Noida, Ludhiana, Mumbai, and Hyderabad next, while doubling down in Delhi-NCR and Bengaluru,” Jewelbox’s co-founder Vidita Kochar told Indian Retailer Bureau. “After two years, we knew our model was scalable in a plug-and-play fashion.”

The expansion aligns with Jewelbox’s ‘phygital’ strategy, integrating digital tools such as AI-enabled try-ons and smart recommendation engines with in-store experiences. Though online sales contribute 30% to the business, the label sees higher conversion rates at its physical locations, with some stores crossing 60%.

Founded with a focus on making diamonds more accessible, Jewelbox offers products starting from Rs 10,000, targeting first-time diamond buyers. The brand operates with a catalogue of over 3,500 SKUs, launching 200 new designs each month with the aim of encouraging repeat visits and purchases.

At present, Jewelbox operates at an annual revenue run rate of Rs 40 crore and is projecting a jump to Rs 150 crore next year. The brand’s growth strategy prioritises profitability and sustainable scaling, according to Kochar, and new product launches include colourful stone set earrings, according to the brand’s Facebook page.