Kushal’s Launches Silver Brand Anera Targeting Rs 25 Crore
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Indian fashion jewellery retailer Kushal’s launched a standalone silver jewellery brand named Anera, targeting Rs 25 crore in first-year revenue across a new standalone retail network in southern India.
The expansion commits the Bengaluru-based company to six initial high-street stores covering 2,500 to 3,000 square feet each, starting with a flagship location in Bengaluru on September 26.
Five additional outlets will follow over the subsequent seven weeks across Bengaluru, Hyderabad, Coimbatore and Vijayawada. The initial footprint allocates two stores each to Bengaluru and Hyderabad, alongside single units in Coimbatore and Vijayawada. Founder Kalpesh Gulechha confirmed the brand will evaluate store unit economics across these four cities over a three to six-month test period before deploying capital toward a broader pan-India store opening programme.
High-Street Stores and Metal Mix
Silver accounts for a rapidly expanding share of the parent company’s existing merchandise mix. Contribution from the metal rose from between 2 and 3 per cent four to five years ago to between 15 and 18 per cent today, prompting management to separate the category from its traditional imitation fashion jewellery counters.
Anera targets shoppers aged 25 to 45 with merchandise tailored for daily office wear, weddings, festive collections and self-gifting. The business model relies on converting younger buyers seeking design variety without committing to the higher price points commanded by gold.
“We want to shift the conversation from the metal value to meaning, style, expression and emotion,”
“We want to shift the conversation from the metal value to meaning, style, expression and emotion,” Gulechha said.
The standalone retail format requires larger store footprints than typical fashion jewellery kiosks, opting for dedicated high-street frontage to build a premium atmosphere. That retail footprint increases fixed lease commitments, putting the onus on high sales density per square foot to justify standalone store viability.
South Indian Test Bed
Selecting Bengaluru, Hyderabad, Coimbatore and Vijayawada gives Kushal’s an immediate reading on regional appetite across tier-one and tier-two southern retail corridors. South India remains the country’s most active regional jewellery market, though organized competition in branded silver has expanded as apparel and lifestyle chains compete for the same discretionary spend.
For high-street landlords, the entry of dedicated silver formats adds another commercial tenant category competing for ground-floor fashion frontage against traditional gold retail giants and beauty brands. The operational risk sits in managing inventory turnover across fast-moving fashion designs while silver raw material costs fluctuate.
Before launching Anera, Kushal’s built its core business around costume and fashion jewellery retail, gradually increasing its fine silver assortment inside existing stores over the last half-decade. That shift laid the groundwork for carving out a separate retail brand once internal sales data demonstrated steady customer migration toward higher-ticket precious metal purchases.
Management projected Anera’s annual revenue to reach Rs 65 crore in its second year. Performance metrics from the first six southern stores across the upcoming six-month trial window will determine the pace and geography of the brand’s national retail rollout.