Silvostyle by PNG expands presence with second store in Pune

Silvostyle by PNG Jewellers has expanded its retail presence with the launch of its second stand-alone boutique in the city of Pune.

The store located at Phoenix Marketcity mall spread across an area of 500 sq ft will house the latest collections from the brand that include Derya, Devi, Daysha, Go Dark, and Lite Me.

Silvostyle plans to further strengthen its presence by opening 15 stores by the end of 2023-24 across the country.

With this expansion that will include self-owned and franchise-owned stores, Silvostyle aims to achieve an annual revenue of Rs 100 crore ($12.4 million) over the next three years.

Commenting on the expansion, Dr Saurabh Gadgil, CEO PNG Jewellers in a statement said, “We are elated to extend Silvostyle by PNG’s offerings to the melting pot of Viman Nagar and Pune’s premier retail destination, Phoenix Marketcity. This new store is a captivating sanctuary for our young patrons, offering an immersive experience that seamlessly merges design, craftsmanship, style, and passion.”

Silvostyle is a silver jewellery brand by PNG Jewellers with a current annual revenue total of Rs 20 crore.