### **Overview** Khazanchi Jewellers Limited, founded in 1971 and headquartered in Chennai, Tamil Nadu, is a leading Indian jewellery company with over five decades of experience in the gold, diamond, and precious stone jewellery segments. The company operates across both **wholesale (B2B)** and **retail (B2C)** markets, offering a diverse portfolio of traditional, contemporary, and fusion designs. Incorporated as a private limited company in 1996, it listed on the BSE SME platform in 2023, marking a significant milestone in its journey toward transparency and scalability. --- ### **Business Model & Operations** Khazanchi follows a **vertically integrated business model**, covering the entire value chain from raw material procurement through design, manufacturing, quality assurance, and distribution. Leveraging its BIS Hallmark certification and status as an authorized dealer on the **India International Bullion Exchange (IIBX)**, the company ensures cost-efficient, compliant, and transparent sourcing of gold—giving it a competitive edge in procurement and pricing. The company serves nationwide through a dual-channel strategy: - **B2B Segment (90% of revenue)**: Supplies gold, diamond, and precious stone jewellery to institutional clients, multi-store jewellers, and distributors. It has a stable base of over **2,000 active B2B clients** (as of H1 FY26), including a landmark strategic partnership with **Malabar Gold & Diamonds**, one of the world’s largest jewellery retailers. - **B2C Segment (10% of revenue, growing)**: Operates through retail showrooms, currently led by a 1,200 sq. ft. store in Sowcarpet, Chennai, with a new **10,000 sq. ft. flagship showroom** under construction at NSC Bose Road, Sowcarpet—scheduled to open in **January 2026**. Revenue in FY25 was **₹1,771.93 crore**, with **71% generated outside Tamil Nadu**, reflecting a strong and expanding national footprint. --- ### **Product Portfolio & Innovation** Khazanchi offers a wide range of products, including: - **Gold jewellery**: Traditional, temple, antique, regional (Kerala, Calcutta, Bengal), bridal, and lightweight fusion designs. - **Diamond jewellery**: Natural and lab-grown (CVD) diamonds. - **Precious stones & fancy jewellery**: Kundan, Jadau, Polki, and more. - **Bullion products**: Gold and silver coins, bars. In 2025, the company launched **Vajraa**, its **premium natural diamond jewellery brand**, featuring lightweight, modern designs tailored to evolving consumer preferences. Vajraa gained immediate traction, securing an order book of **₹55–60 crore** at the **German Jewellery Fair 2025** and the **Gems & Jewellery India International Fair (GJIIF 2025)**, validating its design leadership. Khazanchi also plans to launch a dedicated **fine silver jewellery line**, distributed via both retail and wholesale channels, to capture fast-growing demand for affordable, fashionable options. --- ### **Design & Manufacturing Capabilities** Khazanchi’s core strength lies in its **design-driven approach**: - Houses one of the industry’s largest **in-house design libraries**, with **over 500,000 unique concepts** across 25+ categories. - A skilled team continuously innovates, focusing on **lightweight, high-margin, and daily-wear designs**. - Collaborates with **independent artisans and contract manufacturers** across India to preserve craftsmanship while scaling production. - Offers **bespoke jewellery services** and custom design solutions tailored to individual and institutional client needs. --- ### **Growth Strategy** Khazanchi Jewellers is strategically transforming from a predominantly B2B player into a balanced B2B-B2C enterprise. Key initiatives as of November 2025 include: #### 1. **Retail Expansion** - **New 10,000 sq. ft. flagship showroom in Chennai (Q1 2026)**: - Expected to generate **INR 550 crore in annual revenue**. - Designed as a premium **customer experience center**, showcasing gold, silver, platinum, and diamond collections. - Expected to increase **B2C revenue share from single digits to 20–25%** by FY26. - Plans for **5–6 additional showrooms** in the next 2–3 years, initially focused on **South India** and tier 2/3 cities with rising disposable income. #### 2. **Digital Transformation** - Launched the **"Jewellery Purchase Plan App"** (rebranded from Gold Saving Scheme App), enabling customers to: - Save systematically for future purchases. - Track live gold prices. - Customize designs and make online purchases. - Receive discounts after completion of instalment plans. - Investing in: - **Advanced ERP systems**. - **E-commerce enhancements**. - **Intelligent inventory replenishment tools** to improve efficiency and scalability. #### 3. **B2B Growth & Market Penetration** - Active participation in pan-India and regional jewellery fairs to expand client base. - Strong performance at GJIIF 2025, securing **₹55–60 crore** in B2B orders. - Strategic collaboration with **Malabar Gold & Diamonds** opens access to **400+ global outlets**, validating Khazanchi’s **manufacturing reliability, design appeal, and supply chain strength**. #### 4. **Geographic Diversification** - Currently, **71% of FY25 revenue (₹1,259.91 crore)** comes from outside Tamil Nadu. - Focused expansion into **tier 2 and tier 3 cities in South India**, with future potential in North India. --- ### **Leadership & Governance** Led by experienced promoters: - **Mr. Tarachand Mehta (Founder)**: Over 5 decades in the industry. Oversees strategy, sales, and business development. - **Mr. Goutham**: With the company since 1997; instrumental in expanding retail and wholesale reach. - **Mr. Rajesh Kumar (Joint Managing Director)**: Brings over 25 years of expertise in finance and strategy. The leadership team combines **deep domain knowledge**, **operational rigor**, and **vision for digital and retail transformation**. --- ### **Differentiation & Competitive Advantages** 1. **Design Leadership**: Continuously updated library of 500,000+ designs across traditional and modern styles. 2. **Quality & Trust**: 100% **BIS hallmark compliance**; certified authenticity. 3. **Cost Advantage**: Lower gold procurement costs via **IIBX membership**. 4. **Customer-Centric Model**: Loyalty programs, festive/bespoke collections, flexible purchase plans. 5. **Dual-Channel Strength**: Scalable B2B network + growing high-margin B2C retail footprint. 6. **Digital Integration**: Seamless blend of traditional craftsmanship and modern technology.