Palmonas has entered the Kerala market with the opening of its first store in the state at HiLITE Mall, Thrissur, expanding the jewellery brand’s growing offline retail network.
The move marks another step in Palmonas’ aggressive retail expansion as the demi-fine jewellery brand continues to take its physical-store experience to new markets across India.
Palmonas Opens First Kerala Store in Thrissur
Palmonas has opened its first store in Kerala at the Ground Floor of HiLITE Mall, Thrissur, marking the brand’s entry into the state.
The company announced the launch on LinkedIn, saying that it is looking forward to becoming part of Kerala’s retail and cultural landscape while bringing the Palmonas experience to a new region.
The store gives customers in Thrissur an opportunity to experience Palmonas’ jewellery collections through an offline retail format, strengthening the brand’s omnichannel presence.
Why Thrissur Matters for Palmonas
The new store is located at HiLITE Mall, Kuttanellur, Thrissur, a major retail and entertainment destination in Kerala.
According to HiLITE Mall, its Thrissur property has around 7.45 lakh sq. ft. of built-up area across eight floors and houses more than 150 national and international brands. The mall combines retail, dining and entertainment, positioning it as an important shopping destination for the region.
For Palmonas, entering such a destination provides access to shoppers looking for contemporary jewellery alongside fashion, lifestyle and beauty brands.
Palmonas’ Rapid Offline Expansion
The Kerala launch comes at a significant point in Palmonas’ retail journey.
The brand recently announced that it had reached 101 stores and more than 1 million customers.
Hitesh Magoo, who is associated with Palmonas’ retail and operations expansion, also shared that the company moved from around 40 stores to 101 stores in roughly eight months, with 40 stores signed in just 45 days between March and April.
The company’s expansion is not limited to major metros. Its retail strategy has increasingly included Tier 2 and emerging Tier 3 markets, while the brand has also expanded internationally with stores in the UAE.
The Kerala entry therefore fits into a broader strategy of taking Palmonas closer to consumers through physical retail.
From Digital-First Jewellery to an Omnichannel Retail Brand
Founded in 2022, Palmonas operates in the demi-fine jewellery segment, positioning its products between traditional fine jewellery and inexpensive fashion jewellery.
The brand was founded by Pallavi Mohadikar and Dr Amol Patwari, with actress Shraddha Kapoor joining as a co-founder. Palmonas describes its proposition around accessible, design-led jewellery for everyday wear.
Its collections have included jewellery made using materials such as 925 sterling silver and surgical-grade stainless steel, along with gold-plated and other demi-fine jewellery options.
The brand has increasingly focused on physical stores because jewellery shoppers often want to see, touch and try products before making a purchase.
Pallavi Mohadikar has previously highlighted how customer behaviour influenced Palmonas’ decision to accelerate its offline expansion, noting that customers wanted the opportunity to experience the jewellery in person before buying.
$40 Million Series B Supports Retail Expansion
Palmonas’ offline growth is also backed by significant investor funding.
In April 2026, the company raised $40 million (approximately ₹373–375 crore) in Series B funding, led by Xponentia Capital and Vertex Growth Fund, with participation from existing investor Vertex Ventures SE Asia & India.
The funding followed a ₹55 crore Series A round raised in 2025.
The Series B funding came as Palmonas was accelerating its physical retail strategy. At the time of the fundraise, the company had 60 stores and said a significant share of its revenue was already coming from retail.
The subsequent expansion to 101 stores shows how quickly the brand has scaled its offline footprint.
Palmonas’ Product Positioning
Palmonas operates around the growing demi-fine jewellery segment, targeting consumers who want contemporary designs at more accessible price points than traditional fine jewellery.
Its product categories include:
- Necklaces
- Earrings
- Rings
- Bracelets
- Anklets
- Mangalsutras
- Gold-plated jewellery
- Sterling silver jewellery
- 9K gold jewellery
- Platinum-plated silver jewellery
- Lab-grown diamond jewellery
The brand has also recently introduced a Platinum-Plated Silver Collection, with prices starting from ₹1,700, further expanding its product portfolio.
What Palmonas’ Kerala Entry Means for Jewellery Retail
The Thrissur launch reflects a broader shift in India’s jewellery market.
Jewellery brands that initially built their businesses through digital channels are increasingly investing in physical stores. For consumers, offline stores provide an opportunity to physically evaluate designs, understand materials, try products and receive assistance before purchasing.
For brands, physical retail can also improve visibility, strengthen customer trust and create a direct connection between online and offline shopping journeys.
Palmonas’ rapid store expansion demonstrates this shift clearly. Its move from 60 stores at the time of its Series B fundraise to 101 stores within months indicates how strongly the company is betting on physical retail.
FAQs
1. Where is Palmonas’ first store in Kerala?
Palmonas’ first store in Kerala is located on the Ground Floor of HiLITE Mall in Thrissur.
2. When did Palmonas enter the Kerala market?
Palmonas entered the Kerala market with the opening of its first physical store at HiLITE Mall, Thrissur.
3. Where is the Palmonas store in Thrissur?
The Palmonas store is located at HiLITE Mall, Kuttanellur, Thrissur, Kerala.
4. What type of jewellery does Palmonas sell?
Palmonas operates in the demi-fine jewellery segment and offers products including necklaces, earrings, rings, bracelets, anklets, mangalsutras, sterling silver jewellery and gold-plated jewellery.
5. How many stores does Palmonas have?
Palmonas has recently reached 101 stores as part of its rapid offline retail expansion.
6. How many customers does Palmonas have?
The brand has crossed 1 million customers.
7. Who founded Palmonas?
Palmonas was founded by Pallavi Mohadikar and Dr Amol Patwari, with Shraddha Kapoor joining as a co-founder.
8. When was Palmonas founded?
Palmonas was founded in 2022.
9. Why is Palmonas expanding its offline retail presence?
The brand is expanding its physical-store network to bring its jewellery experience closer to consumers and strengthen its omnichannel retail presence.
10. What does Palmonas’ Kerala expansion indicate about jewellery retail?
The expansion reflects the growing importance of offline and omnichannel retail for digitally native jewellery brands seeking to reach consumers across metros, Tier 2 cities and emerging markets.