MAM
Nakshatra, Asmi to make international debut; D’damas ties-up with ‘Krrish’
MUMBAI: The Gitanjali Group and Damas – the largest retailing jewelry brand chain in the Middle East – have joined forces to launch the former’s Nakshatra and Asmi brands in the Middle East.
Gitanjali Group chairman Mehul Choksi with Rakesh Roshan and others
The Gitanjali Group also announced a tie-up with director Rakesh Roshan for his forthcoming film Krrish, which is a sequel to Koi Mil Gaya, wherein D’damas will be launching a signature line of jewelry inspired by the film. This is in keeping with D’damas completing two years.
D’damas’ brand ambassador Celina Jaitley along with other models set the ramp on fire adorning jewelry from Nakshatra, Asmi, D’damas fit for royalty, at a fashion show by designer Vikram Phadnis.
Gitanjali Group chairman Mehul Choksi with Celina Jaitley
Under the retail tie-up Damas, Dubai would launch Nakshatra and Asmi in Dubai making them first Indian jewelry brands to go global. For this Damas has entered into a strategic tie-up for Nakshatra with Brightest Circle Jewelry Pvt. Ltd., (a tie-up between three diamond sight holders Gitanjali Group, Dimexon Diamonds and Mahindra Brothers). Brightest Circle Jewelry Pvt. Ltd is the official company appointed by DTC to make Nakshatra a global brand. The Gitanjali Group is the sole licensee for taking Asmi international.
Damas MD Tawhid Abdullah said, “In this short span of two years, D’damas has not only emerged as a market leader but has also carved out a niche for itself amongst the consumers. This is a remarkable achievement for us and we plan to further strengthen this relationship by launching Nakshatra and Asmi in association.”
Gitanjali Group chairman Mehul Choksi said, “Gitanjali Group has always believed in raising the bar for itself which in turn have become industry benchmarks. It’s a great honor to be part of launching India’s maiden jewelry brands Nakshatra and Asmi in the international market just the way we were part of launching India’s first branded jewelry.”
Speaking about the tie-up with D’damas, Roshan said, “D’damas is a young and vibrant brand which in its short journey has to its credit many milestones. With this association we hope to connect with our fans on an emotional level wherein the signature line inspired by the film Krrish would give them a chance to preserve a piece from the film for long time to come.”
D’damas president Dharmesh Sodha added, “It is our honour to associate with Mr Roshan who always has believed in making film from the heart, which have instantly connected with the audiences. With creating this special line inspired by the film we wish to tap into new audiences.”
Brands
Reliance Retail FY26 revenue rises 11.8 Per Cent to Rs 3.7 lakh crore
Q4 revenue up 11.1 Per Cent, hyperlocal orders surge 4x, PAT steady
MUMBAI: Reliance Retail isn’t just ringing up sales, it’s ringing doorbells faster than ever. Reliance Retail Ventures Limited (RRVL) reported a steady FY26 performance, with growth powered by store expansion, a sharp surge in hyperlocal commerce, and consistent traction across grocery, fashion and jewellery. For the full year, revenue rose 11.8 per cent year-on-year to Rs 3,70,026 crore. In the January–March quarter, revenue from operations climbed 11.1 per cent to Rs 87,344 crore, up from Rs 78,622 crore a year earlier.
Operating performance remained stable, with Q4 EBITDA inching up 3.1 per cent YoY to Rs 6,921 crore from Rs 6,711 crore. However, quarterly profit after tax held steady at Rs 3,563 crore. For the full fiscal, PAT grew 11.7 per cent to Rs 13,842 crore.
Expansion remained a key lever. RRVL added 1,564 new stores during FY26, while simultaneously scaling its digital and hyperlocal commerce play. The latter emerged as a standout, with daily orders surging more than fourfold year-on-year in Q4, underlining a clear shift towards faster, localised fulfilment.
In grocery, large-format stores maintained momentum, aided by festive demand and the expansion of Smart Bazaar, which crossed 1,000 stores. Promotional campaigns such as ‘Full Paisa Vasool’ delivered record results, with sales rising 26 per cent YoY.
Digital commerce also picked up pace. JioMart added 5.8 million new users in Q4, nearly doubling its registered base year-on-year. Hyperlocal orders grew 29 per cent sequentially and over 300 per cent annually during the quarter.
Fashion and lifestyle saw steady traction. Ajio recorded a 23 per cent YoY rise in average bill value, while fast-fashion platform Shein crossed 11 million app installs, scaling rapidly with expanding product lines.
The jewellery business added further shine, with average bill value jumping 53 per cent YoY, largely driven by rising gold prices and sustained consumer demand.
Commenting on the shift, RRVL executive director Isha Ambani said hyperlocal commerce has become a structural growth driver, with orders rising more than fourfold over the year.
Looking ahead to FY27, the company is betting on technology to deepen engagement. The focus, Ambani noted, will be on AI-led merchandising, sharper pricing strategies and disciplined execution turning scale into sustained customer value.
In short, the carts are fuller, the clicks are quicker, and the next phase looks less about reach and more about precision.
