FranchiseOptions Case Study 02
Who owns a jewellery showroom, and who runs it every day? At the PNG Jewellers showroom in Prayagraj, those roles are split. P N Gadgil Jewellers Limited disclosed that its Legacy-format store on Sardar Patel Marg, Civil Lines, opened on 4 November 2026 under the franchise-owned, company-operated (FOCO) model. The opening provides a concrete example of how a jewellery retailer can work with a franchise owner while running the store itself. Company exchange filing, 4 November 2026
What did PNG Jewellers disclose about the Prayagraj opening?
The company reported 82 stores at the time of the opening, comprising 68 Legacy stores and 14 YOOU stores. Legacy and YOOU are store-format categories. FOCO describes the ownership and operating arrangement used at the Prayagraj location. The filing gives a company-wide store total and identifies the ownership model of this particular outlet. Prayagraj store opening disclosure
How does FOCO divide ownership and operations?
| Model | Who owns the outlet? | Who operates it? |
|---|---|---|
| FOCO | Franchisee | Company |
| FOFO | Franchisee | Franchisee |
| COCO | Company | Company |
These labels explain the broad split. The agreement determines who signs the lease, pays for fit-out, owns the stock, funds working capital and absorbs operating losses. An outlet’s ownership model can also differ from ownership of the underlying property.
Why does the operating split matter in jewellery retail?
A jewellery purchase can involve product advice, exchanges and after-sales service. For a retailer considering FOCO, running stores directly can give it more oversight of how teams deliver those services across cities. That also puts more day-to-day responsibility on the company. Founders should assess whether their teams can train staff, oversee stock controls and respond to customer issues across a larger network.
For prospective franchisees, the useful first question is who carries each cost and risk. Ask for the proposed allocation of fit-out, inventory and insurance costs in writing. Then check how revenue is shared, who bears shortfalls and what happens when the agreement ends. The Prayagraj disclosure identifies the store model. For commercial terms, consult the brand or its authorised representative.
How is FOCO different from COFO?
In FOCO, the franchisee owns the outlet and the company operates it. In COFO, the company owns the outlet and a franchisee operates it. Compare the two in our Lenskart franchise model case study.
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Exploring franchise opportunities? Share your city, investment budget and preferred sector. Expanding your brand? Tell us which markets you’re considering and how you want to divide ownership and operations.
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This independent editorial case study by FranchiseOptions draws on the public sources cited. Store counts and operating models reflect the reporting dates and markets covered. For current franchise availability, eligibility and commercial terms, contact the brand or its authorised representative. The featured image is an AI-generated illustration of a jewellery showroom.
