JB Insights
Style, Silver & Scale: How Kushals Is Redefining India’s Fashion Jewellery Landscape
In an exclusive conversation with JewelBuzz, Manish Gulechha, CEO & Co-founder, Kushals Fashion Jewellery, discusses the brand’s growth journey, evolving consumer preferences, the rise of sterling silver, and the future of organised fashion jewellery retail in India.



As India’s fashion and lifestyle markets continue to evolve, jewellery is increasingly becoming an expression of individuality rather than an occasional purchase. At the forefront of this transformation is Kushals Fashion Jewellery, a brand that has built a strong omnichannel presence through design innovation, affordability, and customer-centric experiences.


In an exclusive response to JewelBuzz, Manish Gulechha, CEO & Co-founder, Kushals Fashion Jewellery, shares insights into the company’s journey, its design philosophy, the growing demand for 92.5 sterling silver jewellery, and the strategic priorities that will shape its next phase of growth.
1. Can you take us through the journey of Kushals and the key milestones that have shaped the brand today?
Manish Gulechha:
Kushals began with a simple belief: beautiful jewellery should be accessible, design-forward, and relevant to the way modern women live, rather than being reserved only for special occasions. When we started, organised fashion jewellery retail in India was still in its early stages. We saw an opportunity to build a brand that combined quality, affordability, and an extensive design portfolio under one roof.
Over the years, our focus has remained consistent: design innovation, quality craftsmanship, and an exceptional customer experience. Today, Kushals offers over 15,000 designs across fashion jewellery and 92.5 sterling silver jewellery, with nearly 100 new designs introduced every week to keep pace with evolving consumer preferences.
A major milestone in our journey has been building a strong omnichannel presence. With over 120 stores across 40+ cities, supported by a rapidly growing online business, we are creating a seamless shopping experience that allows customers to discover, explore, and shop wherever they choose. Every stage of our journey has reinforced our belief that jewellery has become an extension of personal style, and our role is to make that expression accessible every day.
2. What defines Kushals’ design philosophy, and how do you ensure it resonates with a wide range of customers? How do you balance India’s jewellery traditions with modern aesthetics?
Our design philosophy is built around one simple idea: jewellery should fit naturally into a woman’s lifestyle. Today’s consumer doesn’t buy jewellery only for weddings or festivals. She builds a jewellery wardrobe for work, travel, celebrations, gifting, and everyday wear. Our responsibility is to create designs that complement each of these moments.
We draw inspiration from Indian heritage, global fashion, textiles, architecture, travel, art, and customer insights. Rather than replicating traditional jewellery, we reinterpret classic craftsmanship through lighter silhouettes, modern proportions, and contemporary styling that is both comfortable and easy to wear.
The breadth of our design portfolio allows us to cater to diverse customer preferences while maintaining a constant sense of freshness. By introducing new designs every week and continuously studying evolving fashion trends and consumer preferences, we ensure Kushals remains relevant. We believe great jewellery should feel both familiar and contemporary.
3. How has the brand adapted to changing consumer preferences over the years? How do you keep your brand relevant?
Consumer behaviour has changed significantly over the past decade. Jewellery has become an important part of everyday fashion and self-expression. Customers today expect greater variety, faster trend cycles, premium finishes, and seamless experiences across digital and physical channels.
Our response has been to continuously evolve our assortment. We’ve strengthened categories such as everyday wear, workwear, celebration jewellery, bridal fashion jewellery, and 92.5 sterling silver jewellery while maintaining one of the industry’s widest design portfolios. With nearly 100 new designs introduced every week, freshness has become one of our biggest competitive advantages.
Relevance, however, is about more than launching new products. It comes from understanding changing lifestyles, listening to customers, and creating experiences that inspire discovery. Whether online or in-store, our goal is to help customers find jewellery that reflects their personal style rather than simply matching an occasion.
4. The demand for silver jewellery has seen significant growth in recent years. What consumer trends are driving this shift, and how is Kushals positioning itself to capitalise on these opportunities?
Silver jewellery has evolved from being a niche category to becoming a mainstream lifestyle choice. Consumers increasingly view 92.5 sterling silver as a premium yet accessible material that offers authenticity, versatility, and lasting value.
At Kushals, we see silver as a long-term growth opportunity rather than simply another product category. Our portfolio spans minimalist everyday collections, occasion wear, statement designs, and Silver Temple Jewellery, all crafted in BIS-hallmarked 92.5 sterling silver to give customers confidence in quality and authenticity.
As consumer awareness grows, we believe the opportunity lies not only in expanding our assortment but also in educating customers about craftsmanship, materials, and the value of genuine sterling silver. Trust, transparency, and quality assurance will define the future of this category.
5. What is unique about the customer experience in your showroom?


Our stores are designed to inspire discovery rather than simply display products. Instead of organising jewellery solely by product type, we increasingly create lifestyle-led experiences that help customers explore collections curated for different occasions and personal styles.
Our retail format features dedicated zones such as Everyday, Celebration, and Wedding, alongside Vanity Stations and bridal trial spaces in select stores, enabling customers to visualise complete looks with confidence.
Equally important is our store team. Our stylists focus on understanding each customer’s needs and helping her discover jewellery that complements her personal style and the occasion. We want every store visit to feel personalised, enjoyable, and memorable.
6. What have been some of the most memorable moments or achievements?
Crossing the 100-store milestone was certainly an important achievement, but what has been even more rewarding is seeing customers embrace Kushals as part of their everyday lives.
Every new store opening reinforces our belief that organised fashion jewellery retail has significant room for growth across India. It is encouraging to see customers increasingly choosing branded retailers that offer quality, transparency, variety, and a consistent shopping experience.
While our primary focus remains on building the Kushals brand, our ability to combine creativity, speed, and scale continues to differentiate us and will remain central to our future growth.
7. What are your key focus areas for growth in the coming years?
Our vision is to build one of India’s most trusted and admired jewellery brands. Over the coming years, our priorities will include expanding our retail footprint, strengthening omnichannel capabilities, accelerating design innovation, and investing in technology that enhances customer experiences.
We believe the future of jewellery retail will be shaped by personalisation, data-driven merchandising, and the seamless integration of digital discovery with physical stores. Customers should enjoy a consistent experience across every touchpoint.
At the same time, we will continue investing in our people, design capabilities, and supply chain so that we can bring fresh collections to market faster while maintaining the quality and trust that customers associate with Kushals. Our ambition is not merely to grow larger, but to set new benchmarks for organised fashion and silver jewellery retail in India.
The conversation with Manish Gulechha underscores how Kushals Fashion Jewellery is positioning itself at the intersection of design innovation, accessibility, and omnichannel excellence. With a rapidly expanding footprint, a strong focus on 92.5 sterling silver jewellery, and an unwavering commitment to customer experience, the brand is helping redefine how modern Indian consumers engage with jewellery. As preferences continue to evolve, Kushals’ emphasis on personalisation, quality, and continuous design refresh places it firmly among the industry’s most dynamic growth stories.
JB Insights
The Festive Shopper 2026: How Indian Jewellery Consumers Are Rewriting The Rules
JewelBuzz spoke to jewellers across the country to check out the consumer mindset. Indian jewellery buyers this Diwali are not abandoning gold; they are shopping it differently. Reading 23 industry voices through the buyer’s eyes, one picture emerges: shoppers watch the gold rate like a stock ticker, shrink the piece rather than skip the purchase, hunt for proof of fairness, and plan their buying around weddings and festivals, with Dhanteras on 6 November the next big test.
The new festive shopper: Five behaviours
- They time the market. Buyers hold back when rates swing, rush in when prices dip, and lock in early through rate-booking and advance orders.
- They trade down in weight, not in aspiration. Lighter, versatile pieces let them keep the purchase while spending fewer rupees per piece.
- They trade sideways. Diamonds (natural and lab-grown), platinum, silver and fashion jewellery absorb buyers who find heavy gold a stretch.
- They demand proof. Shoppers compare design, quality, purity and price, and reward certification, transparency and genuine offers.
- They buy around occasions. Weddings, Dhanteras and Diwali still set the calendar, and emotion keeps gold at the centre.
Watching the rate: how price swings shape timing
For the 2026 buyer, the question is less “should I buy gold?” than “is now the right moment?” Shoppers have not lost faith in the metal. Aman Talla of Talla Jewellers says that when gold rises, trust in gold rises with it, and John Alukka of Jos Alukkas says consumer trust has grown because of the higher value. What has changed is the timing and the quantity.
Four behaviours show up in the quotes:
- Freezing under volatility. John Alukka notes slight hesitation and confusion because of rate variations. Prithviraj Kothari of IBJA reports volumes down about 15% year-on-year around Ganesh Chaturthi, and a subdued Dussehra, before footfall picked up as gold held between Rs 1.42 and Rs 1.44 lakh.
- Pouncing on dips. NAC Jewellers’ N. Anantha Padmanaban expects a lift as prices come down around Navratri and Diwali, and jewellers such as Shringar and HPJ describe the recent fall as drawing buyers in. Khandelwal Jewellers is running a lucky-draw campaign to help customers take advantage of it.
- Buying early out of fear. Nikhil Parekh of HPJ notes that concern about future price rises may push purchases forward.
- Locking in the price. Khandelwal reports customers securing their rate through rate-booking programmes, and Kothari expects rate-lock schemes to support Dhanteras.
The volume effect follows. Jayantilal Challani of the Challani Group expects sales value to grow in single or low-double digits while physical volume stays subdued, and Jos Alukkas and Ranka Jewellers also expect volume to dip or fall.
Who is buying: six shopper personas
The quotes describe at least six distinct kinds of buyer. They are composites assembled from what jewellers report, not formal market segments, but each has a different trigger and a different basket.
| Persona | What they buy | What moves them |
| The wedding-planning family | Elaborate bridal necklaces, rani haars, statement sets; early orders | A grand look for the bride within budget; heritage craft |
| The Gen Z minimalist | Thin chains, studs, understated rings; lightweight diamonds and platinum | Self-purchase, everyday wear, meaning over weight |
| The gold-to-diamond switcher | Diamond jewellery, lab-grown solitaires and bridal sets | Larger, better stones for the money; investment feel; certification |
| The rate-watching value buyer | Gold on rate-lock, old-gold exchange, lightweight pieces | Price protection; comparing design, quality and price |
| The gifter and fashion shopper | Earrings, bangles, silver, Kundan and CZ pieces | Diwali gifting, design variety, affordability |
| The investment-minded buyer | Gold as store of value | Gold as an emotional asset and a symbol of prosperity |
Three of these personas deserve a closer look.
The Gen Z minimalist buys for themselves, and does so deliberately. Challani describes a preference for thin chains, stud earrings and understated rings. Pokharna sees room for platinum in everyday luxury and self-purchase. Bafna says younger, first-time buyers now choose lab-grown diamonds on purpose, with sentiment shifting from curiosity to conviction. Gupta adds that digital engagement is boosting confidence, and Gulechha reports high online traffic alongside store footfall.
The switcher shows how price pressure redirects rather than removes demand. Surana says people who wanted gold are now also investing in diamond jewellery, driven by rising disposable incomes, the influence of Gen Z and millennials, and a preference for meaningful investments.
The returning family is the emotional heart of Diwali. Talla Jewellers built its Diwali Homecoming Polki collection for people who live far from home and return only at this time of year, a reminder that occasion and belonging move buyers as much as trend.
Planned purchases: weddings and tradition
While everyday buying turns light, weddings keep the traditional end of the market alive. Rakhal Gontla of Vaibhav Jewellers expects marriage-related sales to stay healthy, supported by gold’s place in Indian weddings. Dr. Pratap Kamath of ABARAN calls gold both an emotional asset and a symbol of prosperity, and Nikhil Parekh of HPJ says weddings still create demand for elaborate bridal necklaces and rani haars, because families want the bride to look grand while keeping value within budget.
The wedding shopper behaves differently from the casual buyer:
- Plans early. Aman Talla says customers are choosing old gold exchange and early bridal jewellery, and Prithviraj Kothari points to early bridal orders supporting Dhanteras.
- Wants a statement. Aisshpra reports bridal customers seeking statement pieces with multiple styling options.
- Values heritage craft. HPJ expects its Kolkata-style handcrafted jewellery to draw strong bridal interest, and Nemichand Bamalwa’s Eden collection targets bridal occasions.
- Shops across metals. Wedding season is also expected to lift lab-grown solitaires, engagement rings and bridal sets, and Kushals expects bridal and guest-wear sets in Kundan, Polki-look, antique, temple and jadau-inspired designs from mid-November.
Gold’s cultural role sits at the root of all this. No one in this set of quotes predicts weddings moving away from it.
How shoppers decide: compare, verify, lock in
The 2026 jewellery buyer is a comparer. Chetan Thadeshwar of Shringar says customers remain value-conscious and compare designs, quality and price before deciding. Aisshpra describes purchases as more thoughtful than discretionary, and Saiyam Mehra of Unique Chains & Jewells says shoppers want the right balance of design, quality, purity and affordability.
Five decision rules appear in the quotes:
- Compare before committing. Shoppers weigh designs, quality and price across stores, which is why Shringar says a well-curated range across budgets converts interest into sales.
- Look for proof. Akoirah names IGI and SGL certification and transparent pricing as the trust anchors for lab-grown buyers.
- Lock in the price. Rate-booking and rate-lock schemes (Khandelwal, Kothari) answer the fear of rising rates.
- Recycle old gold. Talla Jewellers cites old-gold exchange among the choices of buyers who are buying with purpose.
- Test the offer for fairness. Dr. C. Vinod Hayagriv of C. Krishniah Chetty Jewellers warns that inflating prices and then discounting artificially erodes consumer confidence, and says promotions must be genuine.
What shoppers are telling the industry
Shoppers are not retreating; they are renegotiating. They still want gold, but in a lighter form, bought at a moment they trust, from a seller they believe. Read as signals, their behaviour says five things:
- “Make it lighter.” Lightweight, versatile designs are where demand is moving across gold, diamonds and silver.
- “Give me a way in.” Silver, platinum, lab-grown and fashion pieces keep price-sensitive buyers in the store.
- “Take the timing risk off me.” Rate-lock schemes, bookings and old-gold exchange help buyers act despite volatility.
- “Prove it’s fair.” Certification, transparent pricing and genuine promotions matter more when every rupee is scrutinised.
- “Speak to me, not my parents.” Minimalist designs, self-purchase occasions and digital engagement win younger buyers.
Three behaviours to watch after Dhanteras on 6 November:
- Booking-to-purchase conversion. Prithviraj Kothari says how many advance bookings become actual purchases will decide the final number.
- Value versus volume. Whether value growth of 15–25% materialises while grams stay flat or fall.
- Reaction to gold’s path. Whether prices stay in the Rs 1.42–1.44 lakh band Kothari cites, since shoppers have shown they respond to dips and hesitate on swings.
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