National News
Jewelbox to Triple Retail Presence with 30 Stores by Year-End, Eyes Rs 150 Cr Revenue Surge
Lab-grown diamond brand Jewelbox expands into new cities including Mumbai and Hyderabad, blending tech-powered experiences with in-store engagement as part of its ‘phygital’ strategy.
Lab-grown diamond brand Jewelbox is set to significantly expand its retail footprint, aiming to open a total of 30 brick-and-mortar stores by the end of the year, up from its current eight outlets across major metros like Delhi, Bengaluru, Chennai, and Kolkata.
The expansion is part of Jewelbox’s broader ‘phygital’ strategy, which blends in-store retail with digital innovations like AI-enabled virtual try-ons and smart recommendation engines. While online channels contribute around 30% to revenue, the company notes that its physical stores see much higher conversion rates, with some outlets crossing 60% in-store conversions.
Founded with the mission to make diamonds more affordable and accessible, Jewelbox offers price points starting at Rs 10,000, catering particularly to first-time diamond buyers. Its current catalogue features over 3,500 SKUs, with 200 new designs launched monthly to drive frequent footfall and repeat purchases.
Operating at an annual revenue run rate of Rs 40 crore, the brand is projecting growth to Rs 150 crore by next year. Kochar emphasized that the expansion is rooted in profitable and sustainable scaling. Recent product additions include colourful stone-set earrings, according to updates on the brand’s official Facebook page.
Jewelbox’s strategic blend of tech-forward retail and curated in-store experiences positions it as a rising player in India’s evolving diamond jewelry market.
The brand will soon enter Noida, Ludhiana, Mumbai, and Hyderabad, while strengthening its presence in Delhi-NCR and Bengaluru, according to co-founder Vidita Kochar. “After two years, we knew our model was scalable in a plug-and-play fashion,” Kochar shared with the Indian Retailer Bureau.
- Visit gives CG greater insights into diamond trade and import-export operations
- BDB Committee Highlights Close Ties between Diamond Industries in UAE and India
The Hon’ble Consul General of India to Dubai, Shri Vishnu Vardhan Reddy, visited the Bharat Diamond Bourse (BDB) complex on July 24, and after being shown around the complex, engaged with members of the Bourse Committee.
The visit enabled the Consul General to gather better insights into the functioning of the diamond trade and the operations within the Bourse. He also observed the smooth functioning of import-export trade in diamonds between the two countries, facilitated by the PCCCC run by Indian Customs within the complex.
The UAE is one of India’s most significant trading partners in the field of diamonds and jewellery. Bilateral trade between the two countries reached US$33.51 billion in FY2025-26.
In addition to a tour of the complex to understand the complete cycle from the import of rough diamonds to the export of polished diamonds, Shri Vishnu Vardhan Reddy also spent time interacting with Mehul Shah, Vice President, BDB, and other Committee members.
The BDB Committee highlighted the close connections between diamond companies in Mumbai and those in Dubai, as well as the regular interactions between the two centres. They thanked Shri Vishnu Vardhan Reddy for the cooperation they have always received from the Indian Embassy and expressed confidence that this visit would further streamline the movement of import-export parcels between the two countries.
Shri Vishnu Vardhan Reddy appreciated the global standards of the infrastructure and systems within the Bharat Diamond Bourse, as well as the professionalism with which the import-export trade operates. He assured the BDB Committee of the continued support of the officials at the Indian Embassy in the UAE.
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