Following the Abu Dhabi launch, Palmonas is preparing to open its second UAE store at the prestigious Mall of the Emirates, Dubai, by the end of July 2026. The expansion comes after the company raised $40 million in funding earlier this year, which will support its retail growth across domestic and international markets.
Even before the Dubai store opening, Palmonas has established its UAE presence through its local website and delivery services. Customers can also purchase the brand’s collections through online marketplaces such as Noon.
The brand’s decision to enter the UAE was driven by increasing online demand from the region. According to co-founder Pallavi Mohadikar, Palmonas aims to address the growing preference among younger consumers for lightweight, everyday jewellery that can be layered and styled, moving beyond traditional heavy 22-karat gold jewellery purchases.
The upcoming Dubai showroom will feature Palmonas’ complete product portfolio, including its 18-karat gold vermeil jewellery, waterproof and tarnish-resistant designs, lightweight 9-karat solid gold collection, and sterling silver collections developed in collaboration with Bollywood actress and co-founder Shraddha Kapoor.
Founded in March 2022, Palmonas was created by Pallavi Mohadikar Patwari after her personal experience with skin irritation caused by fashion jewellery. The brand introduced skin-friendly demi-fine jewellery using materials such as surgical steel and sterling silver with real gold plating.
The company gained significant attention after Bollywood actress Shraddha Kapoor purchased Palmonas jewellery and later joined the brand as an investor and co-founder, acquiring a 21% stake. The brand further accelerated its growth after appearing on Shark Tank India, with revenue increasing from ₹97 lakh in FY24 to ₹39 crore in FY25.
Alongside its international expansion, Palmonas continues to strengthen its presence in India. The brand recently opened its 75th store at DLF Galleria, Gurugram, expanding its footprint across cities including Delhi, Mumbai, Hyderabad, and Bengaluru.
With the UAE launch as its first step into global markets, Palmonas aims to reach 100 stores in India by September 2026 and 200 stores globally by 2027, positioning itself as an emerging player in the growing demi-fine jewellery segment.
