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Aiming for ₹15,000 crore in revenue by 2029-30, jewellery retailer DP Abhushan plans to expand its store count to 51, with a focus on tier-II and tier-III cities.
"Currently, we have 12 stores in Madhya Pradesh and Rajasthan. But now, we are expanding to Gujarat, Chhattisgarh and Maharashtra. We have set a target of 51 stores by 2029-30, mainly in central, north and west India. For this phase of expansion, we are adopting a franchise model, as well as company-owned," informs DP Abhushan Promoter Vikas Kataria.
With FY26 revenue at ₹4,065.13 crore, the company is eyeing a ₹15,000 crore topline by FY30 on the back of this expansion, he said. DP Abhushan is targeting a presence across 7-8 states, according to Kataria. The company is foraying into Chhattisgarh with a store in Raipur, while exploring Nagpur and Nasik in Maharashtra, and Dahod and Baroda in Gujarat. In Madhya Pradesh and Rajasthan, meanwhile, Kataria said the company will continue to expand and consolidate its presence.
"We are looking at setting up stores in Sagar and Mansoor in Madhya Pradesh, and Jodhpur and Bikaner in Rajasthan. So, basically, we are expanding in tier II and III cities," he added.
Kataria said the company is exploring franchise and franchisee-owned, company-operated (FOCO) models to accelerate this expansion, with one such deal already finalised in Jabalpur, Madhya Pradesh.
"All 12 jewellery stores are company-owned. However, from this financial year, we are looking at the franchise or FOCO model to further our footprint. This will give us an opportunity to grow faster. We have already finalised one store under the franchise model in Jabalpur," he added.
The Ratlam-headquartered jewellery retailer has earmarked a capex of around ₹50 crore for this expansion, to be funded through internal accruals. The company's total current debt stands at ₹180 crore, which it plans to reduce going forward.
