The demi-fine jewellery brand is scaling across India and international markets while betting on 9-carat gold, customisation and quick commerce.
Demi-fine jewellery brand Palmonas is accelerating its international expansion, targeting around 10 stores across the Gulf Cooperation Council (GCC) by the end of 2026 as it builds an “India-to-the-world” growth story.
The company has already opened its first international store in Abu Dhabi, which has received a strong initial response. Palmonas is now preparing to enter Dubai, Saudi Arabia and Qatar, while expanding its digital presence through marketplaces such as Noon in Dubai. The company is pursuing a 360-degree market-entry strategy combining physical retail and digital channels.
Founded as a D2C brand in 2022, Palmonas has also entered a rapid expansion phase in India. The brand now operates 78 stores and plans to open eight to 10 stores every month over the next three to four years. Its expansion is increasingly moving beyond major urban markets, with Tier II and Tier III cities becoming an important part of its retail strategy.
Stores in Nashik and Prayagraj are among Palmonas’ top-performing outlets, highlighting the growing opportunity for demi-fine jewellery beyond India’s largest cities.
International expansion is being supported by a broader product strategy. Palmonas is placing significant focus on 9-carat gold, which began as an experiment last year but has since become an important part of the business. The company aims to establish 9-carat gold as a new category in India by combining its demi-fine design approach with lab-grown diamonds.
Customisation is another growth driver, contributing around 10% of sales. Palmonas offers made-to-order services across its stores, giving customers greater flexibility while strengthening the brand’s personalised shopping proposition.
Quick commerce has also emerged as a meaningful distribution channel. Within just six to eight months of launching the channel, it has contributed nearly 15% of Palmonas’ overall revenue. The company sees gifting as a particularly important use case for quick-commerce jewellery purchases.
The company said it is currently well-capitalised after raising funds earlier this year, although its aggressive expansion plans could lead to another fundraise in the near future.
With its combination of D2C roots, physical retail, international marketplaces, quick commerce and product innovation, Palmonas is building a broader omnichannel jewellery business while taking an increasingly global approach to its growth.
Source: Based on the information provided, with additional editorial adaptation and analysis.
