National News
Jewelbox Strengthens South India Footprint with Flagship Store in Bangalore
Jewelbox, a pioneer in lab-grown diamond jewellery, has expanded its presence in South India with the opening of its flagship store in Jayanagar, Bangalore.
This expansion follows the brand’s successful entry into Chennai and is a key part of its retail growth strategy, which has seen rapid expansion with stores in Delhi, Gurgaon, Chennai, Kolkata, and Guwahati over the last six months.
Bangalore, contributing 15% of Jewelbox’s total online orders, is now a pivotal market for the brand. The new store is poised to cater to the rising demand for sustainable luxury jewellery, drawing on the city’s eco-conscious and affluent consumer base, as well as its status as a hub for young professionals.
“We’ve always seen Bangalore as a key market for growth,” said Vidita Kochar Jain, Co-Founder of Jewelbox. “With the Jayanagar store, we’re offering a personalized in-store experience for customers who appreciate sustainability, innovation, and exceptional craftsmanship.”
The Jayanagar store will showcase a curated collection of lab-grown diamond jewellery, featuring personalized consultations, exclusive designs, and expert styling advice aimed at consumers aged 25 to 50.
With the lab-grown diamond market in India set to reach USD 797.92 million by 2030, growing at a CAGR of 14.8%, Jewelbox is positioning itself to capitalize on this growing demand for sustainable jewellery. The brand plans to open three to four additional stores in Bangalore by the end of 2025, further strengthening its presence in the region.
This store launch is part of Jewelbox’s comprehensive omni-channel strategy, combining the convenience of online shopping with the immersive, hands-on retail experience at its Jayanagar outlet.
National News
Jewellers To Be Roped Into Drive GMS
The Goal Is To Make The Scheme Accessible, Trustworthy, And Widely Accepted.
For years, the government’s Gold Monetisation Scheme (GMS)—a program designed to let citizens deposit their idle gold and earn interest on it—has been, well, a bit of a flop. It lacked the personal touch.
To fix this, policymakers are pulling a new card from their deck: bringing local jewellers into the loop. Instead of forcing people to deal with intimidating banking paperwork, the government wants to leverage the trusted relationship you have with your neighbourhood jeweller.
For the first time ever, jewellers will be authorized to help mobilize household gold.
The goal is to make the scheme accessible, trustworthy, and widely accepted. This strategy is moving fast for a couple of major reasons:
Sky-High Prices: Gold prices have been soaring, and combined with high import duties, local jewellery demand is feeling the squeeze.
The Festive Rush: The festive season is right around the corner. If the government can tap into domestic idle gold before the shopping spree starts, it can significantly reduce its reliance on foreign bullion.
High-level talks between senior ministers, the Reserve Bank of India (RBI), and industry leaders have been wrapping up over the last few weeks. Word on the street is that the revamped, jeweller-friendly scheme will officially launch this August.
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