Lalithaa Jewellery Mart Plans Major Expansion in South India

Lalithaa Jewellery Mart Limited, which has recently completed its initial public offering, is preparing for an aggressive retail expansion, according to CMD M. Kiran Kumar. Speaking at a meeting on Saturday, he said the company plans to strengthen its presence across South India and subsequently enter international markets. Lalithaa currently operates 64 showrooms across Andhra Pradesh, Telangana, Tamil Nadu and Karnataka, and is targeting another 110 outlets. At least 10 new stores are expected to be opened by March 2027. Once the southern network reaches 175 showrooms, the company plans to expand into Maharashtra, Uttar Pradesh and Delhi.

The jewellery retailer also plans to enter Malaysia within the next two to three months, followed by Singapore. Kiran Kumar said the company’s strategy is to generate higher sales volumes by keeping margins relatively low and offering quality jewellery at competitive prices. He said the company recorded ₹25,000 crore in total revenue and ₹1,000 crore in net profit through 58 showrooms in the previous financial year. Lalithaa currently focuses on 22-carat gold jewellery and does not plan to sell 9- or 14-carat gold. According to the CMD, around 60% of customers opt for old-gold exchange. He also described gold as a relatively safe asset, noting its significant long-term price appreciation.