Fashion jewellery brand Gargi by PNGS has strengthened its footprint in two key jewellery markets as it pursues an ambitious expansion plan for FY27
Fashion jewellery brand Gargi by PNGS has expanded its presence in North and East India with the opening of two new kiosks in Kolkata and Ghaziabad, strengthening its foothold in some of the country’s most significant jewellery consumption markets.
The new outlets, located at City Centre II in New Town, Kolkata, and North India Mall in Ghaziabad’s Indirapuram area, were opened during May and form part of the brand’s wider expansion strategy for FY27.
The latest additions come as Gargi by PNGS, a publicly listed fashion jewellery brand from the house of P N Gadgil & Sons, seeks to deepen its presence in high-potential regional markets rather than pursue a broad-based national rollout.
Kolkata Emerges As A Key Growth Market
The New Town kiosk marks the brand’s second outlet in Kolkata following the opening of a store in Salt Lake earlier this year, signalling growing confidence in eastern India’s appetite for contemporary fashion jewellery.
Situated within the City Centre II retail hub, the new kiosk targets consumers in one of Kolkata’s fastest-growing residential and commercial corridors. The company said the expansion reflects its strategy of building density within markets that demonstrate strong customer traction.
Kolkata has traditionally been one of India’s strongest jewellery markets, with demand driven by both cultural affinity and frequent celebratory purchases. Gargi believes the city offers significant opportunities for design-led and everyday-wear jewellery categories.
NCR Expansion Gains Momentum
The Ghaziabad kiosk strengthens the brand’s position in the National Capital Region (NCR), one of India’s largest organised jewellery markets.
Located in North India Mall at Vaibhav Khand, Indirapuram, the outlet caters to a growing catchment of young professionals, nuclear families and aspirational consumers. The opening complements Gargi’s existing presence in Delhi and supports its strategy of creating regional clusters that improve both brand visibility and operational efficiency.
Commenting on the expansion, Aditya Modak, Co-Founder of Gargi by PNGS, said North and East India remain central to India’s jewellery culture and consumption patterns.
“North and East India have always been central to how Indians think about jewellery, and these two kiosks are us meeting that culture where it lives. Ghaziabad lets us build real depth in the NCR, while our second Kolkata address tells us the East is responding to what we do — a region we are keen to keep building in,” Modak said.
Expansion Backed By Organic Growth
The company’s latest store openings build on a strong FY26 performance. Gargi reported revenue of Rs 149.47 crore during the financial year, representing nearly 49 per cent year-on-year growth.
During FY26, the brand added 32 new stores, taking its network to 126 points of sale across 65 cities and 21 states.
Modak highlighted that the company’s expansion has been entirely self-funded and supported by a debt-free balance sheet.
“What keeps us confident is that this growth is entirely self-funded and built on a zero-debt balance sheet. With 20 new stores planned for FY27, we are not chasing numbers — we are building a brand, one neighbourhood and one customer at a time,” he said.
Focus On Regional Clusters
For FY27, Gargi aims to add 20 new stores and achieve a revenue compound annual growth rate of around 35 per cent.
The company said its recent openings reflect a deliberate strategy of strengthening regional clusters in high-potential markets rather than spreading resources across multiple geographies simultaneously.
Founded under the 192-year-old P N Gadgil & Sons legacy, Gargi specialises in 925 sterling silver, 14KT natural diamond and 9KT gold jewellery designed for contemporary consumers seeking everyday-wear fashion accessories.
As organised jewellery retail continues to gain ground across India, the brand’s latest expansion underscores growing confidence in demand for affordable, design-focused jewellery across emerging urban centres and established metropolitan markets alike.
