Jewellery brands seize 10% of Indian mall space as Tanishq, Malabar, Kalyan race for large-format anchors
Jewellery's mall footprint has jumped from 1% to 10% in four years, with leasing absorption doubling to 800k sq ft in 2025. Large-format stores now make up 50% of jewellery leasing (vs 14% in 2019), and Nexus Select Trust reports 57% YoY jewellery sales growth, with the category driving 20-25% of mall revenues.
What happened
Nexus Select Trust · Jewellery brands now occupy ~10% of Indian mall space, up from 1% four years ago, with leasing absorption doubling to 800k sq ft in 2025.
Key facts
- 10% mall space share (up from 1% in 4 years)
- leasing share 2% (2019) to 8% (2025)
- absorption 400k sq ft (2024) to 800k sq ft (2025)
- large-format share 14% (2019) to 50% (2025)
- Fine Jewellery 72% of 2025 leasing
- Lab-grown 5% to 8%
- Nexus jewellery sales +57% YoY
- 20-25% of mall revenues
- 8-10 stores per mall vs 1-2 in 2021
- 30,000+ sq ft Nexus Elante zone
Why this matters
Regional jewellery chains and large-format retail real estate are the consolidation targets—scale players will pay up for pre-leased anchor portfolios and tier-2 brands with mall-ready formats.