PALMONAS has crossed the 100-store milestone, reaching 101+ stores across two countries and more than 35 cities, marking another major phase in the rapid offline expansion of India’s demi-fine jewellery market.
The milestone comes after the brand added 26 new stores in just 60 days, taking its network through a sequence of rapid growth stages — from 57 stores to 61, then 75+, and now 101+ stores.
The expansion spans major metropolitan markets, state capitals and emerging Tier 2 and Tier 3 cities, while PALMONAS has also extended its international retail presence to the United Arab Emirates with stores in Abu Dhabi and Dubai.
For a brand founded in 2022, the scale and pace of PALMONAS’ physical retail expansion underline the growing importance of offline retail for digitally native jewellery brands.
PALMONAS Reaches 101+ Stores
The latest milestone puts PALMONAS at:
- 101+ stores
- 2 countries
- 35+ cities
- 26 new stores in 60 days
The company says its expansion has moved beyond India’s largest metropolitan markets into state capitals, Tier 2 markets and emerging Tier 3 cities.
The geographical spread mentioned by the brand ranges from Pune and Ambala to Sangli and Thrissur, alongside its international presence in Abu Dhabi and Dubai.
The strategy reflects an increasingly important shift in Indian retail: growth is no longer concentrated only in Mumbai, Delhi, Bengaluru, Hyderabad and other major metros.
For brands with strong digital awareness, smaller cities can offer significant opportunities to build physical brand presence before the market becomes crowded.
From 57 Stores to 101+ Stores
The speed of PALMONAS’ expansion is perhaps more significant than the 100-store milestone itself.
The company has progressed through the following stages:
57 stores → 61 stores → 75+ stores → 101+ stores
The latest jump includes 26 new stores in only 60 days.
That pace requires significantly more than securing retail locations.
Every new store requires coordination across:
- Site selection
- Lease negotiations
- Approvals
- Store design
- Project execution
- Hiring
- Training
- Visual merchandising
- Inventory
- Store operations
- Launch marketing
PALMONAS’ latest milestone therefore highlights the development of an increasingly repeatable retail expansion engine.
PALMONAS Takes Demi-Fine Jewellery Offline
PALMONAS was founded in 2022 by Shraddha Kapoor, Dr Amol Patwari and Pallavi Mohadikar, with the brand positioned around demi-fine jewellery that sits between fast fashion and traditional fine jewellery.
Its product proposition focuses on jewellery designed for everyday wear, including gold-plated, silver and 9KT gold categories.
The company’s official website currently highlights collections including Platinum Plated Silver, Fine Silver and 9KT Fine Gold, alongside its broader demi-fine jewellery portfolio.
The brand’s move into physical stores represents an important evolution of that proposition.
Instead of relying exclusively on digital discovery, PALMONAS is allowing consumers to physically experience its jewellery before purchasing.
Why Offline Retail Matters for Jewellery
Jewellery is an inherently experiential category.
Consumers often want to:
- See the product in person
- Understand its size and finish
- Try it on
- Compare multiple pieces
- Assess how it looks with their existing wardrobe
- Speak with a retail team
- Build confidence before purchasing
This is particularly important for a newer jewellery brand competing with established players.
PALMONAS’ leadership has previously highlighted this consumer behaviour as a key reason behind its offline expansion.
Pallavi Mohadikar has said that customers wanted to physically experience and try the products before making purchase decisions, helping push the company toward a much larger retail strategy.
Every PALMONAS Store Is Designed Around Customer Experience
PALMONAS’ retail expansion has also involved changes to its store format.
According to Pallavi Mohadikar’s recent comments, the company has evolved its store formats, improved cost efficiency and refined merchandising based on data and customer feedback.
One notable insight was that customers did not always want to depend heavily on salespeople.
In response, PALMONAS developed more open and accessible displays, allowing customers to browse jewellery more independently. (LinkedIn)
This is an important retail design principle.
As consumers become more accustomed to browsing products independently online, physical stores increasingly need to offer a similarly frictionless discovery experience.
From Metros to Tier 2 and Tier 3 Cities
PALMONAS’ latest expansion is notable for its geographic diversity.
The brand says its stores now span:
Metros → State Capitals → Tier 2 Cities → Emerging Tier 3 Markets
This approach can provide several advantages.
Lower Competitive Intensity
Emerging cities can sometimes have less competition from digitally native jewellery brands compared with major metros.
Stronger Local Brand Recall
Entering a market early allows a brand to establish physical familiarity and local customer relationships.
Omnichannel Potential
A store can also act as a physical touchpoint for customers who first discover the brand online.
Wider Customer Acquisition
Offline stores can introduce the brand to consumers who may not have previously encountered PALMONAS through digital channels.
The company’s current official store directory already demonstrates a geographically diverse footprint, including locations in Pune, Delhi, Hyderabad, Bengaluru, Indore, Ahmedabad, Noida, Dehradun, Gandhinagar, Lucknow, Ludhiana, Mohali, Surat, Chennai and other markets.
PALMONAS Expands Into the UAE
The 101+ store milestone is not limited to India.
PALMONAS now identifies two countries within its retail footprint, with the latest expansion communication highlighting Abu Dhabi and Dubai.
This gives the brand an early international physical presence while continuing its aggressive domestic rollout.
The UAE is also a strategically relevant market for jewellery and fashion retail because of its affluent consumer base, strong mall ecosystem and large Indian diaspora.
International retail can potentially provide PALMONAS with an opportunity to test its everyday jewellery proposition beyond the Indian market.
PALMONAS’ Retail Expansion Was Backed by Series A Funding
The current expansion follows a significant funding milestone.
In August 2025, PALMONAS raised ₹55 crore in Series A funding, led by Vertex Ventures SEA and India.
At the time, the company said the funding would be used to strengthen its product portfolio, expand its retail presence and build its position in everyday luxury jewellery for Indian and global consumers.
The company had also fulfilled more than 6.5 lakh orders since launch, according to the same industry report.
The subsequent acceleration in store openings illustrates how capital and operating infrastructure can translate into physical retail expansion.
The Bigger Opportunity: Everyday Luxury Jewellery
PALMONAS is participating in a broader shift in jewellery consumption.
Traditional jewellery buying in India has historically been associated with weddings, festivals, investment and major life milestones.
The demi-fine jewellery segment is trying to expand the category into everyday consumption.
That means jewellery for:
- Work
- Casual outings
- Travel
- Gifting
- Social occasions
- Everyday styling
- Personal expression
PALMONAS’ own website describes its proposition around jewellery that can be part of everyday life rather than remaining stored away for special occasions.
This positioning gives the brand a much larger potential purchase frequency than occasion-led jewellery.
PALMONAS Is Building an Omnichannel Jewellery Network
The company’s current retail strategy does not replace digital commerce.
Instead, PALMONAS is developing a combination of online discovery and offline experience.
Customers can discover products through the PALMONAS website and app, while physical stores allow them to see and try products in person.
The official website currently encourages customers to shop online or visit PALMONAS stores across India, while also offering shipping across India and internationally.
This creates an omnichannel customer journey:
Discover online → Visit store → Try → Purchase → Return online → Discover again
For jewellery brands, that connection can be particularly powerful because physical interaction can increase confidence in the product.
The Economics Behind Rapid Store Expansion
Opening 26 stores in 60 days creates significant operational complexity.
Retail expansion can quickly become expensive if stores are opened without sufficient attention to:
- Rent
- Store size
- Inventory productivity
- Staff costs
- Conversion
- Footfall
- Average order value
- Repeat purchases
- Local demand
- Payback period
PALMONAS’ leadership has previously stated that its stores have been profitable, indicating that the company views store-level economics as an important part of its offline strategy.
This distinction matters.
There is a major difference between opening 100 stores and building a 100-store network that works economically.
Sustainable Growth Over Store Count
The company’s latest milestone deliberately frames the achievement around sustainable growth, rather than simply celebrating the number of locations.
That distinction is increasingly relevant in India’s D2C-to-offline retail environment.
Several digital-first brands have discovered that offline expansion requires a fundamentally different operating discipline.
A successful retail network needs:
Right location + right store format + right inventory + trained people + customer experience + store-level economics.
PALMONAS’ rapid expansion suggests the brand believes it has developed enough of that infrastructure to scale across different market types.
The Importance of the Retail Team
The 101-store milestone also highlights the human infrastructure behind physical expansion.
PALMONAS credits teams involved in:
- Site visits
- Negotiations
- Approvals
- Design
- Projects
- Hiring
- Training
- Visual merchandising
- Store launches
This is particularly important because rapid retail growth can create execution gaps.
Opening a store is only one part of the process.
Maintaining consistent brand standards across 100+ locations is a significantly larger challenge.
As PALMONAS moves beyond 100 stores, operational consistency will become increasingly important.
What 101+ Stores Means for PALMONAS
Crossing 100 stores changes the scale of the business.
At 10 or 20 stores, a company can rely heavily on founder involvement.
At 100+ stores, the organisation needs:
- Standardised processes
- Regional teams
- Retail leadership
- Store training systems
- Centralised merchandising
- Technology
- Inventory planning
- Performance dashboards
- Strong real-estate partnerships
- Consistent customer experience
The expansion therefore marks an organisational milestone as much as a retail one.
PALMONAS’ Next Phase Could Be Even Bigger
The company has already indicated that the current milestone is not the endpoint.
The latest communication positions 101+ stores as another Day One, suggesting that PALMONAS intends to continue expanding its retail footprint.
Earlier in 2026, PALMONAS appointed Shekhar Chandra as Vice President – Retail Expansion, with the mandate to scale its physical footprint and strengthen retail partnerships. His announcement referenced plans for 100+ new store launches across malls and high streets.
That provides context for the current pace of expansion.
If PALMONAS maintains its current momentum, the 101-store milestone could ultimately become a stepping stone toward a substantially larger national and international network.
PALMONAS Store Expansion: Key Numbers
| Metric | PALMONAS |
| Current stores | 101+ |
| Countries | 2 |
| Cities | 35+ |
| New stores in last 60 days | 26 |
| Earlier store count | 57 |
| Founders | Shraddha Kapoor, Dr Amol Patwari, Pallavi Mohadikar |
| Series A funding | ₹55 crore |
| Series A lead investor | Vertex Ventures SEA & India |
| International markets highlighted | Abu Dhabi, Dubai |
| Business category | Demi-fine jewellery |
| Expansion strategy | Metros, Tier 2, Tier 3, international |
Conclusion
PALMONAS crossing 101+ stores is more than a store-count milestone. It represents the rapid offline transformation of a relatively young jewellery brand.
In just 60 days, the company added 26 stores, taking its network from 75+ to more than 100 locations. Its expansion now stretches across 35+ cities and two countries, covering metropolitan markets, state capitals, Tier 2 cities, emerging Tier 3 locations and the UAE.
The bigger story is the company’s attempt to build a profitable, scalable and experience-led retail network around everyday jewellery.
As India’s demi-fine jewellery market becomes increasingly competitive, PALMONAS’ ability to combine digital discovery with physical retail—and to maintain store-level economics while scaling—could become one of its biggest competitive advantages.
101+ stores may be the milestone. But for PALMONAS, the more important test is what comes next.
And if the company’s current expansion pace is any indication, Day One has only just begun.
For more Indian retail expansion and jewellery industry updates, visit Retail Newsline India.
Frequently Asked Questions
How many PALMONAS stores are there?
PALMONAS has announced that it has crossed 101+ stores across two countries and 35+ cities.
How many stores did PALMONAS open recently?
The brand says it opened 26 new stores in the last 60 days.
Which countries does PALMONAS operate in?
PALMONAS’ latest milestone announcement says its retail network spans India and the UAE, with Abu Dhabi and Dubai specifically highlighted.
Who founded PALMONAS?
PALMONAS was founded in 2022 by Shraddha Kapoor, Dr Amol Patwari and Pallavi Mohadikar.
What kind of jewellery does PALMONAS sell?
PALMONAS focuses on demi-fine and everyday jewellery, with categories including plated jewellery, silver and 9KT fine gold collections.
Why is PALMONAS expanding its physical stores?
The company’s retail strategy is based partly on consumer demand for physical product experience, including seeing and trying jewellery before purchase. PALMONAS leadership has also highlighted the importance of retail in its revenue and growth strategy.
Has PALMONAS raised funding for expansion?
Yes. PALMONAS raised ₹55 crore in Series A funding in August 2025, led by Vertex Ventures SEA and India, with retail expansion identified as one of the uses of the capital.