Litestyle by PNG, a sub-brand of P.N. Gadgil Jewellers Ltd, increased its retail presence in Maharashtra during March 2026 with the opening of three new outlets.
The expansion included new locations in Nashik and Mumbai, specifically targeting the growing demographic of young, working professionals seeking lightweight gold and diamond jewellery for daily use.
This move is part of the broader strategy by P.N. Gadgil Jewellers to enhance accessibility in high-density residential and commercial zones.
According to reports from Indian Jeweller, the brand launched a new outlet near Canada Corner in Nashik to serve the regional market. In Mumbai, two additional stores were opened in the suburbs of Ghatkopar and Mulund.
The Ghatkopar store, located at Vallabh Vihar in Rajawadi Colony, commenced operations on 22 March, while the Mulund outlet on LBS Marg opened its doors on 29 March. To mark these launches, the retailer introduced promotional incentives, such as zero deduction on old gold exchanges and an additional 3% benefit for customers.
Strategic Focus on Lightweight Jewellery
The Litestyle brand was developed to cater to modern consumer preferences for jewellery that is functional and appropriate for office environments.
The product range emphasizes contemporary designs, including minimalist mangalsutras, symbolic pendants, and astrological jewellery. This focus aligns with a wider industry shift toward daily-wear accessories rather than traditional, heavy bridal sets. Information from PNG Jewellers indicates that the brand prioritises personalisation and comfort, using 14kt and 18kt gold to maintain affordability and wearability.
The expansion into suburban Mumbai and regional hubs like Nashik reflects the company’s objective to capture market share in areas with high concentrations of style-conscious shoppers. By placing stores in micro-markets like Rajawadi Colony and LBS Marg, the retailer aims to integrate into the daily shopping habits of urban residents.
Financial Performance and National Expansion
Following these launches, the total store count for P.N. Gadgil Jewellers Ltd reached 78 outlets as of late March 2026. This growth follows a strong fiscal performance in the previous year. According to a rating report from CRISIL Ratings, the company reported a 26% year-on-year revenue growth in fiscal 2025, reaching ₹7,699 crore.
This performance was supported by proceeds from its initial public offering in September 2024, which raised approximately ₹850 crore to fund debt reduction and retail scaling.
P.N. Gadgil Jewellers, which traces its history back to 1832, has set a long-term goal to expand its network to 150 stores by March 2028. As detailed by Whalesbook Corporate News, the company is currently the second-largest organised jewellery retailer in Maharashtra.
The continued rollout of the Litestyle format allows the group to diversify its revenue streams by appealing to younger segments while maintaining its legacy bridal business under the main PNG Jewellers brand.
The group maintains a presence in both India and the United States, positioning itself to compete with national players in the increasingly organised Indian jewellery sector.
