The company achieved a turnover of about Rs 300 crore in FY24 and is targeting a 50% growth for FY25
Bengaluru: Bengaluru-based fashion and silver jewellery brand Kushal’s aims to expand its physical footprint to over 300 stores within the next three years by strategically opening 30 to 35 new outlets annually, a top company official told IndiaRetailing.
“Our recent expansion into the Northern market has received a positive response. As we continue to grow, we plan to focus more on the Northern and Western regions in the coming years, with a particular focus on expanding in Maharashtra and Delhi NCR,” said Manish Gulecha, director of Kushal’s Fashion Jewellery.
Kushal’s has over 90 stores in more than 30 cities, including Chennai, Pune, Hyderabad, Kochi, Indore, Chandigarh, and Guwahati, each spanning an average size of 900 sq.
Out of its 90 stores, approximately 75 stores are located in the South, covering all five states: Tamil Nadu, Kerala, Karnataka, Andhra Pradesh, and Telangana.
For the financial year 2024, Kushal’s achieved a turnover of approximately Rs 300 crore, reflecting a 40% increase from the previous year. This year, the company is targeting a 50% growth.
Kushal’s Fashion Jewellery was founded in 2006 by the Gulecha family. Operating from Basavanagudi in Bengaluru, the company offers a range of fashion jewellery suitable for weddings, festivals, and everyday wear. In addition to its offline stores, it retails through its direct-to-consumer (D2C) website, and e-commerce platforms such as Ajio and Myntra and delivers to 95% of PIN codes in the country online.
Currently, the retailer has 15,000 stock-keeping units (SKUs) across its stores and online platforms, with a weekly update of around 100 new designs. Its price range ranges from around Rs 150 to Rs 70,000. Last year, the company also introduced a sterling silver category, which has seen a strong growth of 160% over last year.
Digital Expansion
The offline-first brand began online retailing about five years ago and launched Kushal’s App in 2023. Now, digital channels makes up more than 20% of its overall business.
“Currently, 95% of our online sales come through our website and app. We anticipate substantial growth in our online business and aim to achieve a balanced ratio of online to offline sales within the next three to four years,” said Gulecha.
Kushal’s is also aiming to build a strong omnichannel platform, which will involve investments in technology infrastructure, such as advanced e-commerce platforms, customer relationship management (CRM) systems, and data analytics tools.
Moreover, the company will be launching its international website this fiscal.
“Despite already shipping globally through our current website, we have experienced a significant volume of orders and inquiries for Indian aesthetics-inspired jewellery, such as temple and zircon pieces, primarily from non-resident Indians in the US, the UK, and UAE,” he added.
The new site will facilitate easier transactions for consumers overseas. With this launch, Kushal’s anticipates a 40% increase in international sales.
At present, Kushal’s boasts over two million customers offline and online combined, with most of them based in Bengaluru, Hyderabad, and Chennai. It has also seen a 20-30% increase in customer repeat rate year-over-year (YoY).
Tier-1 cities account for 70% of Kushal’s business. However, tier-2 cities like Mysore, Vizag, and Kochi have shown sales growth, increasing at 60% YoY.
Outreach Tactics
The company allocates around 10% of its total revenue to marketing and regularly collaborates with digital content creators to reach its target audience.
In last year’s Diwali campaign, Kushal’s featured Bollywood actress Tara Sutaria as the face of the brand. The 360-degree campaign, which included outdoor and PR efforts, generated over 30 million impressions across various channels.
“This year, we are focusing heavily on digital campaigns to drive foot traffic to our stores and strengthen our online business through Kushal’s app and website. We are increasing our digital spending by 20%-30%,” said Gulecha.
“We are anticipating a 50% growth from last year’s Raksha Bandhan season and 40% growth over last year this Varamahalakshmi, a festival celebrated in South India. Overall, we expect a 40% increase in sales this festive season compared to last year,” he added
Experiential events such as styling masterclasses and sessions with local women’s groups are also key components of Kushal’s marketing strategy. It regularly conducts research on both Indian and global fashion trends, performs competition mapping, and gathers consumer insights through feedback forms and call interviews.
