The new brand targets ₹25 crore in first-year revenue as silver becomes a larger part of Kushal’s business and younger consumers explore alternatives to traditional gold jewellery.
Bengaluru-based fashion jewellery brand Kushal’s is entering the silver jewellery market with Anera, a standalone brand targeting ₹25 crore in revenue during its first year. The move marks a strategic expansion into a category that has become a larger contributor to Kushal’s existing business, while creating a dedicated platform for new-age and festive silver jewellery.
Anera will open its first store in Bengaluru on September 26. Five additional stores are planned across Bengaluru, Hyderabad, Coimbatore and Vijayawada over the following six to seven weeks. The initial network will comprise two stores each in Bengaluru and Hyderabad, and one each in Coimbatore and Vijayawada.
The first six outlets will function as a test market. Kushal’s plans to assess their performance over the next three to six months before accelerating a wider pan-India rollout. The stores will primarily be located on high streets and will cover 2,500–3,000 square feet, with a focus on premium ambience and customer experience.
The launch follows a significant rise in silver’s contribution to Kushal’s revenue. According to founder Kalpesh Gulechha, silver accounted for around 2–3% of revenue four to five years ago, compared with 15–18% currently. This growth has created an opportunity to build a dedicated brand around silver rather than treating it only as part of the wider fashion jewellery portfolio.
“We want to shift the conversation from the metal value to meaning, style, expression and emotion,” Gulechha said.
Anera will target consumers aged 25–45, with products designed for office and everyday wear, weddings, festive occasions and self-gifting. The brand expects demand from younger consumers seeking alternatives to traditional gold jewellery, particularly those willing to experiment with designs and finishes without making the higher-value commitment associated with gold.
Its positioning will focus on the emotional and lifestyle value of jewellery, supported by a dedicated retail format. The company also sees further headroom in occasion-led silver consumption, as consumers increasingly explore jewellery for celebrations, personal expression and everyday styling.
Anera is targeting ₹65 crore in revenue in its second year. In the near term, the focus will remain on establishing the standalone format, understanding store economics and validating customer demand before increasing the pace of expansion.
For Kushal’s, the launch creates a new growth avenue by combining its existing fashion jewellery experience with a focused silver proposition and a retail-led consumer engagement strategy.
Source: Based on publicly available reporting, with additional editorial adaptation and analysis.
