Origem plans five October store openings, targets ₹600–800 crore revenue in five years
Goldiam International’s Origem says its 26-store network reached store-level break-even in August. Five openings are planned in October, with further additions through December and profits from older outlets helping fund expansion.
The opening
Goldiam International targets ₹600-800 crore in revenue from Origem over the next five years. Its 26-store network reached store-level break-even in August, and it plans to open five stores in October, using profits from older outlets to fund expansion.
Store and format facts
- ₹600-800 crore Origem revenue target over the next five years
- 26-store network
- 20-25% B2B growth
- ₹1,500-2,000 crore B2B revenue target over the next four to five years
- about ₹2,500 crore combined business target
- about 5% current Origem share of Goldiam’s business
- Origem share expected to cross 10% by September 2027
- five stores planned in October
- slightly below ₹5 crore network sales in August
- ₹363.7 crore consolidated total income in the June quarter
- 54% year-on-year total income growth
- ₹74 crore net profit in the June quarter
- 120.1% net profit growth
- ₹1,021.2 crore consolidated revenue from operations for FY26
- ₹170.6 crore net profit for FY26
- ₹8.16 crore Origem quarterly revenue
- around ₹60,000-70,000 average selling price
What it means for the format
Origem’s planned October–December expansion makes it a brand to monitor for retail partnerships, with new-store economics and rollout execution key diligence priorities.
Next on the rollout
- Completion of the five October openings: the reported 26-store base would reach 31, assuming no closures.
- Whether aggregate store-level break-even persists after new outlets enter the network.
- Same-store sales and profitability at older outlets, alongside time to break-even for new cohorts.
- Inventory turnover, operating cash flow and any increase in borrowing or equity funding.
- December rollout commitments and local competitors' promotional responses.
- Evidence that revenue growth reflects sustainable store productivity, not only a larger footprint.
- Prioritize catchments where new stores add customers rather than divert sales from existing outlets.
- Rebalance inventory across locations and seek supplier terms that reduce rollout-related cash pressure.
- Use mature-store profits selectively, with further openings gated by new-store ramp performance.
The counter-case
Five planned openings signal ambition, not proven profitable growth. Store-level break-even in one month does not establish sustainable company-wide profitability or cash generation after central costs, opening expenses and inventory investment. New stores could consume more cash than older outlets generate, while the ₹600–800 crore five-year revenue target remains an aspiration rather than a demonstrated trajectory.