• ₹286.56 Crore Investment to Launch 15 Brand-Exclusive COCO Stores Across India
  • Total Store Count to Reach 49 After Adding 15 New Stores

Mumbai :  PNGS Reva Diamond Jewellery Ltd plans to market and promote 15 new stores to create local brand awareness and enhance visibility across various locations in India. The majority of these stores will be established in Tier-1 and select Tier-2 cities in Maharashtra, along with metro cities across the country.

As part of the company’s strategy to expand its footprint across India and strengthen brand recall, it believes that establishing additional brand-exclusive stores for its flagship brand “Reva” is essential to drive long-term growth.

In line with this strategy, the company intends to invest ₹286.56 crore to launch 15 new brand-exclusive stores across India. These proposed outlets will be set up on leased premises and will follow the Company-Owned, Company-Operated (COCO) model. Under this structure, the company will incur the capital expenditure towards store fit-outs, fixtures, furniture and related infrastructure, while store operations will be managed entirely by its employees.

Any additional funding requirement will be met through internal accruals. The company plans to undertake extensive marketing and promotional activities during the launch phase of each store to generate awareness, create visibility and drive footfall in respective catchment areas. These initiatives will include outdoor advertising such as hoardings at high-traffic locations, along with print, radio and television campaigns.

Currently, the company operates 34 stores across 25 cities in Maharashtra, Karnataka and Gujarat. Of these, one is a brand-exclusive store operated under the COCO model, aggregating 48.00 running feet, while the remaining 33 stores operate under the shop-in-shop (SIS) format, aggregating 599.15 running feet.

Following the addition of the 15 proposed stores, the company’s total store count will increase from 34 to 49 stores across India.

These SIS outlets function within retail stores operated by its Corporate Promoter, P. N. Gadgil & Sons Limited, enabling the company to leverage established infrastructure and customer footfall while maintaining its brand identity.

Under the existing arrangement, the company pays commission for its shop-in-shop presence within the Corporate Promoter’s stores as per the Franchise Agreement, as amended on June 26, 2025. However, the SIS model has certain limitations, including restricted scalability and limited scope for further expansion, prompting the strategic shift towards expanding its brand-exclusive COCO store network.