India jewellery leasing: Large-format stores hit 50% share in 2025
Synopsis
India's jewellery retail has undergone a quiet revolution: large-format experience stores now claim half of all organised leasing, up from just 14% six years ago. With absorption doubling to 0.8 million sq. ft. in a single year and lab-grown diamond brands accelerating their footprint, the category has vaulted into India's top three retail demand drivers — and mall developers are redesigning entire precincts to keep up.
Key Takeaways
Large-format jewellery stores ( 8,000+ sq. ft. ) accounted for 50 per cent of India's organised retail jewellery leasing in 2025 , up from 14 per cent in 2019 , per CBRE South Asia .
Jewellery's share in total organised retail leasing rose from 2 per cent (2019) to 8 per cent (2025), placing it among the top three retail demand drivers in India.
Absorption by jewellery brands doubled from 0.4 million sq. ft. in 2024 to 0.8 million sq. ft. in 2025; Hyderabad, Chennai, Bengaluru , and Delhi-NCR led demand.
Fine jewellery dominated at 72 per cent of leasing in 2025; Lab-Grown Diamond (LGD) brands grew their share from 5 per cent to 8 per cent year-on-year.
Mall developers are creating dedicated jewellery precincts with reinforced vaults and specialised lighting to meet sector requirements.
Large-format, experience-led jewellery stores accounted for 50 per cent of India's organised retail jewellery leasing in 2025 — up sharply from just 14 per cent in 2019 — according to a report released on Thursday, 14 May 2025 by CBRE South Asia Pvt. Ltd. The data signals a structural repositioning of jewellery retail in India, from product-driven transactions to destination-style experience centres.
The Shift to Larger Formats
Leading jewellery brands are moving away from compact 1,500–2,500 sq. ft. outlets toward expansive 8,000+ sq. ft. showrooms. These flagship spaces are being designed with private VIP bridal lounges, augmented-reality virtual try-on zones, gallery areas for high-value collections, and personalised consultation rooms. The transformation is not limited to established national chains — new market entrants and regional players in tier-II and tier-III cities are also leasing spaces of comparable scale, matching the footprint of legacy flagships.
Jewellery Now a Top Retail Demand Driver
The sector's share in total organised retail leasing has more than tripled, rising from 2 per cent in 2019 to 8 per cent in 2025. This places jewellery among the top three demand drivers in India's retail market, behind only fashion and apparel, and food and beverage. Absorption by jewellery brands doubled year-on-year — from 0.4 million sq. ft. in 2024 to 0.8 million sq. ft. in 2025. Hyderabad, Chennai, Bengaluru, and Delhi-NCR collectively accounted for the majority of that demand.
What the Industry Is Saying
Anshuman Magazine, Chairman and CEO – India, South-East Asia, Middle East and Africa, CBRE, said: '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.' He added that 'jewellery is emerging as the definitive premium anchor, delivering strong revenue performance, enhancing destination stature, attracting affluent shoppers, and strengthening long-term asset value.'
Mall Developers Respond With Dedicated Jewellery Precincts
Developers are proactively curating specialised jewellery zones within large malls, providing reinforced vaults and high-density specialised lighting to meet the unique technical and operational requirements of jewellery retail. The report highlighted this as a growing trend, reflecting how mall operators are reconfiguring their tenant mix to capture the category's premium draw.
Fine Jewellery Dominates; Lab-Grown Diamonds Gain Ground
Fine jewellery continued to dominate leasing activity, accounting for 72 per cent of the total in 2025. However, the share held by Lab-Grown Diamond (LGD) brands rose from 5 per cent in 2024 to 8 per cent in 2025, reflecting a broadening shift in consumer preferences. As LGD formats mature and price accessibility improves, their retail footprint is expected to expand further in the near term.
Point of View
Which means the experiential arms race is no longer confined to metros. The lab-grown diamond share doubling in a single year is the subplot to watch — if LGD brands continue this trajectory, they could disrupt fine jewellery's 72% dominance within two to three leasing cycles. Developers designing dedicated jewellery precincts are making a long bet on the category's staying power; whether footfall converts to the revenue performance CBRE's own CEO projects will be the real test of this structural shift.
NationPress
11 Aug 2026
Frequently Asked Questions
What share of India's jewellery retail leasing do large-format stores hold in 2025?
Large-format stores of 8,000 sq. ft. and above accounted for 50 per cent of India's organised retail jewellery leasing in 2025, according to a CBRE South Asia report. This is a sharp rise from just 14 per cent in 2019.
How much did jewellery retail absorption grow in 2025?
Absorption by jewellery brands doubled from 0.4 million sq. ft. in 2024 to 0.8 million sq. ft. in 2025, per CBRE data. Hyderabad, Chennai, Bengaluru, and Delhi-NCR together accounted for the bulk of this demand.
Which cities are driving jewellery retail leasing in India?
Hyderabad, Chennai, Bengaluru, and Delhi-NCR collectively led jewellery retail leasing demand in 2025, according to the CBRE report. Tier-II and tier-III cities are also seeing new entrants lease large-format spaces of 8,000+ sq. ft.
What is the share of lab-grown diamond brands in jewellery leasing?
Lab-Grown Diamond (LGD) brands increased their share of jewellery retail leasing from 5 per cent in 2024 to 8 per cent in 2025, reflecting growing consumer interest in the category. Fine jewellery still dominates at 72 per cent of total leasing.
Why are jewellery stores getting larger in India?
Brands are transitioning to 8,000+ sq. ft. showrooms to offer experience-led retail — including VIP bridal lounges, augmented-reality try-on zones, and personalised consultation rooms. CBRE describes this as a repositioning of jewellery from a product transaction to a destination retail category.
