Eight months after launching as a digital-first brand, Lucira is anchoring its growth strategy around a clear goal of building a Rs 100 crore brand over the next three years by leaning heavily into physical retail, Rupesh Jain, co-founder, Lucira told ETRetail.
In the last 90 days, the lab-grown diamond brand has opened two stores in Mumbai and Pune, and a third store will open in January, taking the count to three by the end of this fiscal.
“By the end of FY26, we plan to have 8–10 stores with a mix of high street and mall locations across Mumbai, Delhi, Bengaluru, Hyderabad, and Pune, followed by Kolkata. Each store will be sized between 800 and 1,000 sq.ft, with CAPEX in the range of Rs 60–70 lakh,” he asserted.
For its stores, the brand is currently following a company-owned, company-operated model. Store-level profitability is expected within six to nine months, with an internal target of under 180 days.
“We want to make sure every store becomes EBITDA positive before we really start working with franchises. The first store we opened is already EBITDA positive,” he added.
While the brand started digital-first, revenue today is largely offline-led.
“About 85 per cent of our sales come from offline and 15 per cent from online. Average ticket size for online stands at Rs 35,000 – Rs 40,000 and offline transactions at Rs 65,000 –Rs 70,000. A lot of discovery happens online before customers come into the stores,” he noted.
The brand currently offers a catalogue of around 1,500 products.
On the funding side, Lucira has raised nearly Rs 45 crore from Bloom Ventures and Spring Marketing Capital. Around 60 per cent of the capital is being deployed towards distribution, with the rest split between team building, operations, and CAPEX.
“Our monthly burn is at Rs 50 – Rs 60 lakh, with brand-level break-even expected in the next two to three years,” he concluded.
