Bengaluru: Fashion jewellery brand Kushal’s is foraying into the silver jewellery segment with the launch of Anera, a standalone brand that is targeting Rs 25 crore in revenue in its first year, as silver sales gain traction within its existing business, founder Kalpesh Gulechha told ETRetail.
Anera will open its first store in Bengaluru on September 26, followed by five more across Bengaluru, Hyderabad, Coimbatore and Vijayawada over the next six to seven weeks.
The move comes as silver has become a significantly larger part of Kushal’s business, with its contribution to revenue rising from 2-3 per cent four-five years ago to 15-18 per cent currently, according to Gulechha.
“We want to shift the conversation from the metal value to meaning, style, expression and emotion,” Gulechha said. Anera will focus on new-age and festive silver jewellery, targeting consumers looking for alternatives to traditional gold jewellery.
The standalone brand will have a dedicated retail format with a premium ambience and customer experience. Its stores, primarily planned on high streets, will span 2,500-3,000 square feet.
The first six stores will act as a test market, with two each in Bengaluru and Hyderabad and one each in Coimbatore and Vijayawada. The company plans to assess their performance over the next three to six months before accelerating the pan-India rollout.
Anera will target consumers aged 25-45, with products across office and everyday wear, weddings, festive occasions and self-gifting.
The company sees further headroom in occasion-led silver consumption, particularly among younger consumers who are more willing to experiment with designs and finishes without making the higher-value commitment associated with gold.
Anera is targeting Rs 65 crore in revenue in its second year, with the near-term focus on establishing the standalone format and proving the store economics before stepping up expansion.
