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P N Gadgil Jewellers opens Legacy store in Ayodhya, taking its network to 81 stores

Our read

P N Gadgil Jewellers will more likely than not keep adding Legacy stores under the FOCO model, reaching beyond 81 stores without changing its format mix sharply.

For operators

P N Gadgil Jewellers' Legacy store in Ayodhya under the FOCO model takes the network to 81 stores (67 Legacy, 14 YOOU), so regional jewellers should expect more competition in Uttar Pradesh's religious-tourism markets.

Watch

Store count past 81 before Diwali would mean FOCO partners are opening at festive pace, not one-offs, which firms up landlords' leasing pipelines in smaller cities.

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The report,

P N Gadgil Jewellers opened a new Legacy format store in Ayodhya, Uttar Pradesh on 11 October 2026 under the FOCO model. Its total store count now stands at 81, comprising 67 Legacy Stores and 14 YOOU Stores.

P N Gadgil network stands at 81 stores, mostly Legacy format
  • Legacy stores67
  • YOOU stores14
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07:30 IST · 10 moves · what each means · free

What it means for the format

P N Gadgil Jewellers is using the FOCO model to enter Ayodhya, with Legacy stores (67 of 81) clearly leading YOOU (14), so partners and rivals should treat FOCO as its main route into new cities.

Next on the rollout

  • Next FOCO openings announced in other Uttar Pradesh or pilgrimage towns
  • Mix of new stores between Legacy and YOOU against today's 67 and 14
  • Rival jewellers announcing Ayodhya showrooms or festive campaigns
  • Gold price swings that could slow festive buying and store approvals

Likely next moves

Our read of what comes next — analysis, not reported by the source.

  • P N Gadgil Jewellers is likely to announce more Legacy openings under the FOCO model in Uttar Pradesh and other pilgrimage or tier-2 towns.
  • Expect P N Gadgil Jewellers to keep Legacy as its lead format, since it accounts for 67 of the 81 stores, and to add YOOU stores more selectively.
  • Local and regional jewellers in Ayodhya may respond with their own festive offers or showroom upgrades as a national-scale brand enters the town.
  • Prospective FOCO partners are likely to approach P N Gadgil Jewellers once the Ayodhya store shows early footfall and sales.
  • Mall and high-street landlords in smaller cities may offer the brand better terms as its network grows.

The source

Source Read the source at NSE India: company announcements

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