Jewellery brand QWEEN, backed by a ₹1,000 crore investment round led by diamond major Rosy Blue and Japanese luxury jeweller Kashikey Co. Ltd, is targeting ₹100 crore in revenue during the current fiscal year as it prepares for a nationwide expansion.
The brand has already opened its first store in Noida and plans to launch its second outlet in Delhi next week. Subsequently, QWEEN will open its third store in Bengaluru within a month. The company plans to use its funding runway, which supports at least two years of expansion, to build a presence across Tier I and Tier II cities.
“We are starting with three stores. The idea is to expand all across India, mainly in tier I and tier II cities to start with,” said Amit Kumar, CEO and co-founder, QWEEN.
QWEEN expects its stores to reach break-even within six to eight months. Each outlet covers more than 6,000 sq ft, reflecting the brand’s strategy of making jewellery shopping more experiential and consumer-focused.
“Over the last 30-40 years, retail experience in categories like fashion and cosmetics has become more experiential, and the consumer is in charge of everything. However, in jewellery, age-old practices are still followed. This is the only retail where the consumer is not in charge, andthe brand is in charge,” Kumar said.
The founders see this gap as an opportunity to reshape how customers discover and purchase jewellery. Therefore, QWEEN is combining retail experience with product storytelling as it seeks to establish itself as a bridge-to-luxury brand.
“We felt that if we take retail experience and product experiencetogether, and create a brand that stands for both, it can create a verybeautiful brand,” Kumar said.
The brand currently offers more than 3,000 stock-keeping units across plain gold jewellery, diamonds and gemstones. Its portfolio includes more than 50 varieties of gemstones, while customers can browse the catalogue through both its digital platform and physical stores.
Furthermore, QWEEN is placing its omnichannel strategy at the centre of its expansion plans. The company aims to cater to consumers who increasingly discover jewellery brands online before visiting stores or making purchases.
Suyash Motarwar, co-founder and CTPO, said technology remains an underutilised opportunity within the jewellery sector.
“Jewellery is one of the oldest industries in the world, but we have seen the least application of technology. We are building an omnichannel jewellery experience,” he said.
“Online is becoming a discovery channel for us,” Motarwar said.
Meanwhile, the ₹1,000 crore investment round gives QWEEN significant capital to support its near-term store expansion and strengthen its omnichannel infrastructure. The company plans to build its presence in the bridge-to-luxury segment by combining a broad jewellery assortment with experiential retail and technology-enabled shopping.
