Jewellery Giants Go Big: Large-Format Showrooms Now Command 50% of Retail Leasing
Mumbai, May 15, 2026: India’s jewellery sector has emerged as a powerhouse of retail demand, with large-format stores now accounting for 50% of all jewellery leasing, up from just 14% in 2019. According to the “All that Glitters” report released by CBRE South Asia Pvt. Ltd at the Phygital Retail Convention 2026, the industry has transitioned from a product-based transaction model to an experience-led category, trailing only fashion and F&B as a top demand driver, CBRE South Asia said in a press release.
The shift is marked by brands moving away from traditional 1,500-square-foot units toward “experience centres” exceeding 8,000 square feet. these massive showrooms often feature VIP bridal lounges, augmented reality try-on zones, and private consultation rooms. This expansion is not limited to national giants; regional players in tier-II and tier-III cities are increasingly leasing large spaces to match the scale of established flagship stores.
“The rapid expansion of large-format, experience-led stores signals a structural shift that is reshaping how brands engage with consumers and how developers design their tenant mix,” said Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE. “Jewellery is emerging as the definitive premium anchor, delivering strong revenue performance, enhancing destination stature, attracting affluent shoppers, and strengthening long-term asset value.”
Market data reveals that leasing absorption by jewellery brands doubled from 0.4 million square feet in 2024 to 0.8 million square feet in 2025. This surge is concentrated in five key markets—Hyderabad, Chennai, Delhi-NCR, Bengaluru, and Mumbai—which together represent over 90% of total leasing volume. Hyderabad saw the most dramatic growth, with its share of national leasing doubling to 31% over the past year.
Developers are responding to this demand by creating dedicated jewellery precincts within malls, equipped with specialized infrastructure like reinforced vaults and high-density lighting. While fine jewellery remains the dominant segment at 72% of leasing, Lab-Grown Diamond (LGD) brands are gaining ground, increasing their share to 8% as they target younger, value-conscious demographics.
According to Ram Chandnani, Managing Director – Leasing, CBRE India, “LGDs have emerged as a significant trend, appealing to both Gen Z and millennial cohorts. By offering ethical transparency at a 60-80% lower price point, brands in this category are making luxury more accessible to value-conscious, socially responsible consumers.”
The report concludes that jewellery brands are now adopting a multi-format strategy to capture different segments. This includes large-format stores for brand immersion, mall boutiques for daily-wear buyers, and “shop-in-shop” formats in department stores. Additionally, former Direct-to-Consumer (D2C) digital brands have moved into physical spaces, effectively filling the gap between mass-market fashion accessories and high-end fine jewellery.
