The Jewellery business is one of the most astounding businesses a person plans for. There is no end to the jewellery designs and the brands that are at no par with each other in the market. The brand GIVA was introduced in 2019 by collaboration of three people Sachin Shetty, Ishendra Agarwal, and Nikita Prasad.
GIVA Inspiration
Ishendra Prasad is an electrical engineer partnered with investment associate Sachin Shetty and the NIFT jewellery designer Nikita Prasad. It is a Bangalore-based start-up that entered the market with the inspiration base of Pandora, based in Denmark and Mejuri, based in the US. The top-selling brands of fine jewellery; like Bluestone, Carat Lane, and Melora, were thriving when the brand GIVA entered.
Gold jewellery is a bit expensive option to; wear for women who are, working and want to match it with their attire every day. So, the Bangalore-based engineer came into the picture with the concept of silver jewellery; in comparison to artificial ones. The artificial jewellery may have allergic reactions in comparison to silver and gold jewellery remained an expensive option. So, GIVA offered a collection of silver wear which was precious, fine and luxurious in presentation.
GIVA Funding
The business was started, with an initial investment of 10 lakhs and has raised almost $ 675,000 from August 2019 to July 2020. The prime investors of the company are the A91 partners, Aditya Birla Ventures, and Alteria Capital. It is a seed round funding venture that raised around 270 crores in a recent Series B round led by Premji Invest and from the existing investors participation. The company entered its second investment round in this year 2023. It raised $ 4.8 million in debt leading to a total fund of $ 50 million from the investors like India Quotient, Kunal Bahl, and Anicut.
GIVA Growth Story
The company, founded in 2019, even raised its bar; in sales during the pandemic times, and due to the rising prices of gold jewellery. The revenue generation closed down; to 84.6 crores in the financial year 2022 and is expected to; close down the 2023 financial year at twice the amount; that is 170 crores. The growth; of the brand has remained tremendous among its competitors like BlueStone and CaratLane.
The brand has almost 50 stores operating across India running successfully. It started from the fine 925 silver ornaments to stepping foot into the gold jewellery in 14k and 18k gold. The price range of products from a minimal 400 to 4000 is available. It even has collaborations with celebrities that offer a premium range of jewellery being the prime face of GIVA. The products are available online and can be ordered on WhatsApp and phone calls. The online shopping platforms like Nykaa, Amazon, Tata Cliq, Myntra, Ajio and more have them on offer.
The future of the brand GIVA looks to be promising in growth, quality as well as on purpose. Well, as rightly said diamonds are a woman’s best friend. There is nothing more adorable than a stunning piece of jewellery.
