Aisshpra Plans 10 New Franchise Stores with ₹5 Billion Investment

Aisshpra Gems & Jewels has announced plans to open 10 new jewellery stores under a franchise model by March 2028. According to company director Saumitra Saraf, the expansion will involve investment of around ₹5 billion (500 crore). The company, whose business is concentrated in Uttar Pradesh, is currently focusing on that state and neighbouring Bihar in northern India.

Four new openings bring the network to 20 stores

According to a PTI-Bhasha report dated 23 October 2026, Aisshpra announced the opening of four new jewellery stores on Friday. The stores are in Bahraich, Lucknow and Mirzapur in Uttar Pradesh, and Bettiah in Bihar. These openings bring the company’s total retail network to 20 stores.

The Bettiah store also marks the company’s entry into a new state. It establishes Aisshpra’s presence in Bihar, while its business remains largely concentrated in Uttar Pradesh. The latest expansion therefore combines a stronger presence in its core market with a move into a neighbouring state.

The company’s next stated target is to reach 30 stores by March 2028. It is important to distinguish between the existing 20 stores and the 10 proposed outlets: the four recent openings are already part of the current network, while the next 10 belong to the future expansion plan.

A franchise model for the next 10 stores

Speaking to PTI-Bhasha at the launch of the new stores, Saraf said the 10 additional jewellery outlets due to open by March 2028 would operate under a franchise model. For those assessing franchise opportunities in India, the key point is that the company has specified how it intends to pursue its next phase of expansion.

Saraf said investment per store is around ₹500 million (50 crore). On that basis, the estimated total for 10 new stores is approximately ₹5 billion (500 crore). This is an investment estimate for the proposed expansion; it should not be interpreted as company turnover or as a stated franchise fee for an individual partner.

For prospective partners, the indicative investment per store may help with an initial financial assessment. Before making a decision, however, they will need to establish the respective responsibilities of the company and franchisee, how capital requirements will be shared, arrangements for jewellery stock, and operating terms in a written agreement. The overall investment figure does not, by itself, explain the full cost structure of a partnership.

Priority markets: Uttar Pradesh and Bihar

According to Saraf, the company is currently focusing on Uttar Pradesh and Bihar because it sees considerable potential in both states. He also said it would consider expansion into other states over the next two to two-and-a-half years.

There is a clear distinction here between the immediate priority and the longer-term possibility. Uttar Pradesh and Bihar are the current focus, while expansion elsewhere remains under consideration. Entry into other states should therefore not be treated as a confirmed opening schedule or a firm store plan.

This geographical focus matters to anyone evaluating a franchise opportunity. Alongside assessing potential demand in a particular city, prospective partners should check whether the location fits the brand’s expansion plans. The Bettiah opening gives the company its first presence in Bihar, but it does not establish a timetable for stores in other cities across the state.

Turnover expectations and a broader product range

Saraf said Aisshpra recorded turnover of ₹23 billion (2,300 crore) in the 2025–26 financial year. In the current financial year, the company expects turnover to rise by around 30% to ₹30 billion (3,000 crore). This is the company’s forecast, not an achieved result.

Alongside expanding its store network, Aisshpra is broadening its product range. In addition to traditional and bridal jewellery, it is offering lightweight, contemporary diamond jewellery under its lifestyle jewellery brand, ‘Jewel Story’. The aim is to attract younger customers.

For prospective franchise partners, this announcement is about more than store numbers. Any assessment of the proposed partnership should consider the product range, the local customer base and the substantial investment required together. The company’s overall turnover should not be used as an estimate of sales or profits for a proposed store.

Practical takeaway: Interested partners should treat the indicative investment of around ₹500 million (50 crore) per store as a starting point. Before proceeding, obtain written confirmation of the location, capital commitments, stock arrangements and operating terms.