Palmonas Hits 75 Stores Across 31 Cities, Blending D2C, Quick Commerce and Affordable Luxury

The Shraddha Kapoor-backed demi-fine jewellery brand now spans 18 states with 45 high-street stores and 30 Grade A mall outlets, reporting ~31% like-for-like growth. Channel mix runs D2C ~50%, marketplaces ~23% and offline ~27%, with quick commerce via Blinkit and Zepto.

— Source publishedFri, 3 Jul, 2026, 10:52 IST·First seen Fri, 3 Jul, 2026, 10:53 IST·Source IMAGES Business of Fashion

What happened

Palmonas, an Indian demi-fine jewellery brand co-founded by Shraddha Kapoor, hits 75 stores across 31 cities, blending D2C, marketplaces, quick commerce

Key facts

  • 75 stores
  • 31 cities
  • 18 states
  • 60,000 sq. ft.
  • 45 high-street stores
  • 30 Grade A malls
  • ₹1,000–₹2,500 price band
  • 9KT from ~₹7,000
  • D2C ~50%
  • marketplaces ~23%
  • offline ~27%
  • ₹3,000–₹4,000 trading density per sq. ft.
  • 31% like-for-like growth

Why this matters

Palmonas' proven omni-channel playbook spanning D2C, quick commerce and 75 physical stores makes it an attractive acquisition or partnership target for larger jewellery or lifestyle platforms seeking demi-fine category entry.

What to watch

  • LFL growth trend holding above ~25% in next quarter
  • Quick-commerce share of revenue crossing 5-8%
  • New demi-fine entrants or legacy jeweller sub-brands launching
  • Gold/silver price volatility affecting demi-fine input costs and margins
  • Store-level payback period and mall vs high-street productivity gap
  • Any equity raise or strategic investor announcement
  • Densify store footprint in existing 18 states before entering new geographies to leverage warehousing and brand awareness
  • Deepen quick-commerce assortment with curated impulse SKUs and gifting bundles priced for cart-adds
  • Use D2C first-party data to drive offline site selection and localized inventory
  • Build private-label loyalty/subscription to lift repeat rate and offset marketplace commission drag
  • Layer in occasion marketing (Rakhi, Diwali, wedding) tied to celebrity equity

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