Leading brands are rapidly scaling up store sizes, replacing traditional 1,500–2,500 sq. ft outlets with expansive ‘experience centres’, says report by CBRE South Asia
Mumbai: India’s jewellery retail landscape is undergoing a decisive structural shift, with large-format stores emerging as the dominant growth driver. Showrooms exceeding 8,000 sq. ft accounted for 50% of jewellery leasing in 2025, a sharp rise from just 14% in 2019, according to CBRE South Asia’s latest report, ‘All that Glitters: Jewellery Brands Recast India’s Retail Footprint’, unveiled recently.
The surge reflects a fundamental repositioning of jewellery retail—from transactional selling to immersive, experience-led consumption. Leading brands are rapidly scaling up store sizes, replacing traditional 1,500–2,500 sq. ft outlets with expansive ‘experience centres’ designed to deepen consumer engagement and elevate brand perception.
These new-age formats integrate private VIP bridal lounges, Augmented Reality-powered virtual try-on zones, curated gallery spaces for high-value collections, and personalized consultation suites. The shift is not limited to legacy players; emerging regional brands and new entrants in Tier II and Tier III cities are also adopting large-format strategies, signalling a broad-based industry transformation.
“The rapid expansion of large-format, experience-led stores signals a structural shift that is reshaping how brands engage with consumers and how developers design their tenant mix,” said Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE. “Jewellery is emerging as the definitive premium anchor, delivering strong revenue performance, enhancing destination stature, attracting affluent shoppers, and strengthening long-term asset value.”
Jewellery’s growing prominence is also evident in its rising share of organized retail leasing, which has quadrupled from 2% in 2019 to 8% in 2025. The category now ranks among the top three demand drivers in India’s retail real estate market, alongside fashion & apparel and food & beverage.
Leasing momentum has accelerated significantly over the past year. Total absorption by jewellery brands doubled from 0.4 million sq. ft. in 2024 to 0.8 million sq. ft. in 2025, with Hyderabad, Chennai, Bengaluru, and Delhi-NCR accounting for the bulk of demand. Notably, Hyderabad emerged as the standout market, with its share of jewellery leasing surging from 15% to 31% year-on-year.
Tenant dynamics within the segment are evolving in parallel. While fine jewellery continues to dominate with a 72% share of leasing, lab-grown diamond (LGD) brands are gaining traction, increasing their share from 5% in 2024 to 8% in 2025.
Brands are also adopting more nuanced, multi-format retail strategies. Large flagship stores are being complemented by boutique mall outlets for daily-wear collections and shop-in-shop formats within department stores to maximize visibility and footfall efficiency. Meanwhile, D2C jewellery brands are transitioning into physical retail, targeting high-traffic locations such as mall atriums, transit hubs, and affluent high streets to bridge the gap between fashion and fine jewellery.
While Tier I cities remain the primary revenue engines, Tier II and Tier III markets are increasingly driving profitability, supported by lower operating costs and higher average transaction values.
The cumulative impact of these shifts underscores a clear trend: jewellery is no longer just a product category but a strategic anchor in India’s evolving retail ecosystem.
CBRE Group, Inc. has a strong presence across advisory, leasing, capital markets, valuation and property management in commercial real estate. In India, the firm provides strategic insights and research-driven solutions across asset classes, including retail.
Retail Jeweller India News
