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Gargi By PNGS Expands With Four New Stores, Marks Strong Retail Growth

New Outlets in Ravet, Baner, Paud Road (Pune), and DSL Mall, Hyderabad, Reinforce the Brand’s Position as one of India’s Fastest-Growing Fashion Jewellery Names.

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Gargi by P N Gadgil & Sons (PNGS), one of India’s fastest-growing listed fashion jewellery brands, has closed its financial year on an emphatic note with the launch of four new exclusive brand outlets — three in Pune’s Ravet, Baner, and Paud Road neighbourhoods, and one at DSL Mall, Hyderabad. The openings mark a fitting close to a year in which Gargi cemented its status as a standout performer in the branded fashion jewellery category, backed by strong financials, an aggressive retail rollout, and a market capitalisation exceeding Rs. 800 crore.

The Ravet store, located at Yashada Windsons, opened on March 26, 2026, followed closely by the launches in Baner and Paud Road — two of Pune’s most aspirational residential and commercial corridors. The Hyderabad outlet at DSL Mall extends Gargi’s footprint in Telangana, a market the brand has been methodically building for the past two years.

Each of the new stores offers Gargi’s full range of contemporary collections — from everyday 925 sterling silver pieces to certified natural diamond lines — designed for the modern Indian consumer seeking wearable, design-forward jewellery at accessible price points.

Speaking about the milestone, Aditya Modak, Co-founder and Director, Gargi by PNGS, said:

Aditya Modak

“March has always been a defining month for us — it’s when the year’s effort becomes visible. These four launches are not just stores; they are proof of what we set out to build. Ravet, Baner, and Paud Road reflect how deeply Pune continues to trust and embrace Gargi, while Hyderabad tells us our South India story is only getting stronger. As we close this financial year, we are proud to say that we are building not just a bigger brand, but a more meaningful one — one neighbourhood, one customer, one conversation at a time.”

The March launches cap what has been a landmark year for Gargi by every measure. The brand reported nine-month revenues of Rs. 119 crore for FY2025–26, with quarterly revenues crossing Rs. 46 crore in Q3 — a 27% year-on-year jump. Net profit for the same quarter grew by more than 15% year-on-year, and the company has maintained profitability in every quarter since inception. With an EBITDA margin of approximately 31% and a debt-free balance sheet, Gargi’s financial profile stands out sharply in a category still dominated by unorganised players.

From a market-cap perspective, Gargi trades at a valuation in excess of Rs. 800 crore on the BSE — a remarkable milestone for a brand that only commenced retail operations in 2021. The brand now operates across 40+ cities through a combination of exclusive brand outlets, franchise stores, and Shop-in-Shop formats — and has set its sights on at least one new store opening per month through FY2026–27.

Earlier this financial year, the brand opened 12 exclusive brand outlets, launched in Aurangabad and Indore, expanded into Delhi’s Pitampura and Pimple Saudagar in Pune, and opened a store at Spectrum Metro Mall, Noida. The four March launches bring the brand’s pan-India exclusive store count to its highest yet.

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New Premises

Keemti Strengthens Indore Presence With Second Store At Scheme No. 140

Following The Success Of Its MG Road Outlet, The Lab-Grown Diamond Jewellery Brand Expands Its Indore Footprint With A Second Store At Scheme No. 140.

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Keemti, the modern lab grown diamond jewellery brand founded by Armaan Kothari and backed by the Kothari Group and entrepreneur Nikhil Kamath, is strengthening its retail footprint in Indore with the launch of its second store at Scheme No. 140. Following an encouraging response to its MG Road store, the new location marks another milestone in Keemti’s retail expansion and reinforces Indore’s importance in the brand’s growth journey.

Keemti’s expansion into Scheme No. 140 comes in response to growing consumer interest in the city for fine jewellery that combines modern design, certified lab grown diamonds, quality craftsmanship, and competitive pricing. With two strategically located stores, Keemti is expanding its reach across Indore and bringing its retail experience closer to a wider base of consumers.

Indore’s evolving luxury landscape, growing community of young professionals and entrepreneurs, and increasing openness to new-age jewellery formats make it an important market for Keemti. Since entering the city, the brand has seen growing interest from consumers looking for jewellery that reflects their individuality and lifestyle, while offering the quality and trust traditionally associated with fine jewellery.

The new Scheme No. 140 store will feature a diverse range of jewellery across 14K gold and 925 sterling silver, including both studded and non-studded collections. The assortment spans everyday jewellery, workwear, rings, earrings, pendants, bracelets, mangalsutras, and occasion wear, offering something for the many facets of modern life. Designed with Keemti’s philosophy of intentional design and accessible luxury, the collection brings together modern aesthetics, exceptional craftsmanship, and the brilliance of certified lab grown diamonds. Customers will also have access to Keemti’s promises on buyback and exchange on eligible jewellery, reinforcing the brand’s commitment to long-term value and consumer trust.

A key differentiator for Keemti is its access to the Kothari Group’s extensive manufacturing expertise across the USA, Europe, and the Middle East. With strong in-house manufacturing capabilities and a factory-direct approach, Keemti eliminates multiple layers of intermediaries across the traditional jewellery supply chain, enabling the brand to offer thoughtfully designed jewellery at highly competitive prices. This direct-to-consumer model gives Keemti greater control over quality, craftsmanship, and pricing, allowing consumers to access exceptional fine jewellery at compelling value without compromising on design or finish.

Speaking about the brand’s expansion, Sunil Kothari, Chairman, Keemti, said:“Indore has emerged as an important market for Keemti, and the response to our MG Road store has given us strong confidence in the city’s potential. The launch of our second store at Scheme No. 140 allows us to take the Keemti experience to more consumers across Indore and strengthen our relationship with the city. Our focus is to offer thoughtfully designed jewellery, exceptional craftsmanship, and factory-direct value, while building a retail experience rooted in quality, transparency, and trust.”

Sharing his vision, Armaan Kothari, Founder, Keemti, added:

“Keemti was created for a new generation of Indian consumers who see jewellery as an expression of individuality, ambition, and personal milestones. Indore’s young and evolving consumer base strongly resonates with this vision, and the response to our first store has reinforced the opportunity we see in the market. With our second store, we are making the Keemti experience more accessible while continuing to offer modern design, certified lab grown diamonds, and compelling value through our manufacturing advantage.”

The expansion in Indore forms part of Keemti’s broader strategy to build a strong retail and omnichannel presence across India. Alongside its flagship store in Andheri, Mumbai, and its growing presence in Pune, the brand has established retail operations in Indore and Delhi, with additional store launches planned across key markets. Through its expanding network of stores, e-commerce, and marketplace presence, Keemti aims to make lab grown diamond jewellery more accessible while establishing a new standard for modern fine jewellery through intentional design, exceptional craftsmanship, and factory-direct pricing.

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