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Established jewellery retailers contribute 15-20% of Mall Revenues

Jewellery stores are becoming a prominent feature in shopping malls in India, as consumers shift towards established retailers. Each mall now has about 8-10 jewellery stores, occupying nearly 5% of total mall space, up from just 1% two years ago. The organised jewellery retail segment has been outpacing other consumer discretionary segments since April 2023, contributing 15-20% of mall revenues despite occupying only about 5% space.

While brands such as Tanishq are continuing to grow their shopping mall footprint, Reliance Jewels, Kalyan Jewellers, Malabar Gold & Jewels and Joyalukkas are also opening new stores.Aditya Birla Group has also announced a Rs 5,000 crore investment to enter this growing segment.

With real estate accounting for only 1-2% of the cost of opening a new store, jewellers are seizing the opportunity to expand by ramping up advertising and marketing spends.

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