Business partners with the knowledge of micro markets and jewellery retail operations but not willing to invest heavily are the best fit for the COFO models; the FOCO model is most suited for high networth individuals with an interest in investment in gold but lacking operational knowledge; the FOFO models are those where the brand-owner forms a tie-up with business partners having prior operational experience as well as funding capability.

• The gold jewellery retail industry, traditionally characterised by family-owned stores and localised brands, is undergoing a significant transformation. The franchisee model has become a popular strategy among jewellery brands aiming for rapid expansion and market penetration.
• The franchisee model enables faster market entry and growth without significant initial investment from the franchisor, boosts brand awareness and consumer trust, with the franchisees bringing in local market knowledge and customer insights.

Source: Company data; ICRA Research