Anera Silver by Kushals' Enters Silver Jewellery Market; Launches First Store in Bengaluru, Outlines Pan-India Expansion

The promoters of India’s leading fashion jewellery brand, Kushal's, have officially entered the premium silver jewellery segment with the launch of their new standalone brand, 'Anera Silver by Kushals'. The brand opened its very first flagship retail store in Bengaluru’s high-street hub, HSR Layout, on September 26. Renowned Kannada film actress Ashika Ranganath graced the grand opening as the chief guest, unveiling the brand's inaugural collections.

Anera Silver is spearheaded by Kalpesh Gulechha, co-founder of Kushal's, who brings over two decades of retail and jewellery industry expertise. The new brand is strategically positioned to capture the fast-growing demand for high-quality, design-centric 925 sterling silver jewellery, blending modern aesthetics with traditional craftsmanship.

Aggressive Retail Expansion Blueprint

The Bengaluru launch serves as the launchpad for a massive pan-India retail footprint. Under its first phase of expansion, Anera Silver plans to open six large-format stores within the next eight weeks. These upcoming outlets will be located in key South Indian markets, including Hyderabad, Coimbatore, and Vijayawada. Setting a new benchmark for silver jewellery retailing, each upcoming store will span a massive 2,500 to 3,000 square feet, offering an experiential shopping environment. Over the next five years, the brand aims to rapidly scale its operations to establish a network of 100 to 150 stores nationwide.

Financial Targets and Market Outlook

Anera Silver is eyeing a first-year revenue target of ₹25 crore. Driven by its aggressive store rollouts, the brand expects its top line to jump to ₹65 crore in its second year of operations.

The launch comes at a time when skyrocketing gold prices have shifted consumer interest toward silver as a highly fashionable alternative. Anera Silver plans to target the 25–45 age demographic, offering curated collections for daily wear, office wear, destination weddings, and premium gifting. Through its core philosophy, "A New Era of Silver," the brand aims to elevate silver from a mere commodity to a definitive lifestyle and fashion statement.

1. Jewellery Collections Offered by Anera Silver

Anera Silver by Kushals focuses on a highly curated, premium selection of 925 sterling silver jewellery. The brand aims to shift consumer focus away from silver's basic metal value and toward fine craftsmanship, personal expression, and distinct styles. Its core collections are tailored across the 25–45 age demographic and categorized into four primary consumer pillars:

• Festive and Bridal Wear: Designed as a stylish, premium alternative to traditional gold jewellery, these larger statement pieces blend classic aesthetics with heavy embellishments suitable for destination weddings and grand occasions.

• Contemporary and Everyday Fashion: A minimalist, lightweight product lineup consisting of sleek rings, elegant chain pendants, bracelets, and studs perfect for daily wear and office settings.

• New-Age Designs: Focused heavily on storytelling and modern aesthetics, incorporating materials like cubic zirconia (CZ), halo styles, and geometric patterns to suit modern Western and fusion outfits.

• Premium Gifting: Thoughtfully curated items explicitly packaged and structured for festive or relationship-centric gifting.

2. History and Growth of Parent Brand, Kushal's

From a localized business setup, records show that Kushal's Fashion Jewellery has rapidly grown to become one of India's market leaders in organized fashion and silver accessories.

• Foundation & Philosophy: Founded in 2006 by the Gulechha family out of Basavanagudi, Bengaluru, Kushal's set out to organize the highly fragmented Indian imitation and fashion jewellery market. Its primary design philosophy has consistently been blending traditional Indian crafts with a modern approach.

• Profitable Bootstrapping to Institutional Investment: For much of its early journey, Kushal's relied purely on internal funding and remained steadily profitable from inception. After validating its retail model, it raised initial institutional equity from India SME Investments in 2019. In early 2024, the brand secured a massive ₹284 crore ($34 million) Series B funding round from Mumbai-based private equity firm [Lighthouse Funds] to aggressively scale its physical footprint.

• Financial & Retail Performance: Kushal's closed FY24 with a turnover of ₹300 crore, marking a 40% year-on-year growth. The brand targets a 50% top-line acceleration for the current fiscal year.

• Omnichannel Expansion: The brand employs an integrated omnichannel framework where physical stores generate roughly 80% of sales, complemented by its D2C website and platforms like Myntra and Ajio. Currently operating over 100 retail outlets across 30+ cities, Kushal’s has outlined a clear roadmap to expand its national network to 300 stores.

• The Pivot to Silver: The launch of Anera stems from a massive surge in internal demand. Over the last 4 to 5 years, silver jewellery’s contribution to Kushal’s overall revenue climbed dramatically from 2–3% to roughly 15–18%, showing a 160% spike in category interest. This explosive growth prompted the promoters to spin off silver into its own standalone, large-format premium retail experience.