GIVA jewellery – Startup Story | Founder| CEO | Funding | History | Competitors

Introduction:

India is the biggest manufacturer of silver jewelry withinside the international with the aid of using a few margin, accounting for 35% of the entire fabrication. India is likewise the biggest purchaser of silver withinside the international. This changed into now no longer constantly the case; China changed into the biggest manufacturer until 2013. Thailand stands at quantity two, with the US at quantity three. In phrases of consumption, India stays at primary however the United States movements as much as the second one position, with China at third. 

All those figures are calculated on the premise of the excellent weight of silver, for an essential reason. In India, the markup on conventional jewelry normally falls among 10-15% or even high-style shops not often pass above 40%. In the west, the markup is normally round 1000% i.e, jewelry sells for ten instances the price of the silver it contains.

That’s why specific huge groups got here to play. And amongst them a brand new begin up has been born known as GIVA. Bengaluru-primarily based totally D2C jewelry startup GIVA has raised $10 Mn in a Series A spherical from Sixth Sense Ventures, A91 Partners and others consisting of India Quotient, Grand Anicut Angel Fund, and Founder’s Bank Capital. So we could have short dialogue approximately it.

About:

GIVA is a web first silver jewelry shop aiming with an imaginative and prescient to offer authentic, elegant, and low-cost jewelry. Started in 2019, GIVA has grown swiftly to come to be certainly considered one among India’s main silver jewelry brands. Being on-line first, client pleasure is our number one objective.

GIVA presents specific services

• Providing Pure Silver – Every piece is crafted with 925 sterling silver, so there’s in no way a doubt approximately quality. Your treasured jewelry will maintain its price, forever
• Authenticity Certificate – Your GIVA portions are followed with the aid of using an authenticity certificates that validates the purity of your treasured jewels
• Packaging – Packaging as fantastic as your jewelry, assured to convey a grin in your face
• Convenience – Doorstep delivery, speedy and stable checkout, 30-day no questions requested returns, any charge technique you could suppose of (consisting of coins on delivery), loose and insured delivery. What greater may want to you ask for!

Bangalore-primarily based totally GIVA Jewellery is on-line luxurious items and jewelry platform for low-cost silver jewelry and accessories. Started in 2019, the platfrom pursuits to offer client delight and hopes to come to be certainly considered one among India’s main silver jewelry brands. GIVA jewelry additionally presents portions followed with the aid of using an authenticity certificates that validates the purity of treasured jewels. The company presents doorstep delivery, stable checkout, 30-day returns, specific charge strategies together with loose and insured delivery. They intend to convey the customers some thing private to specific themselves best. SO we could see how this begin up born nd expanded!

Founder & Team:

GIVA changed into based in 2019. GIVA has four executives with 150 – 250 employees. GIVA’s founder is Ishendra Agarwal. GIVA’s modern Chief Operating Officer is Aditya Labroo. Others are Nikita Prasad and Sachin Shetty. Head region of GIVA Jwellery is positioned at JP Nagar Phase nine Flat no. 012, JSR The Banyan, Bangalore, 560062, India.

History:

Founded in 2019 with the aid of using Ishendra Agarwal, Nikita Prasad and Sachin Shetty, GIVA gives a number of silver,18K gold, rose gold and oxidised silver jewelry this is every so often decorated with zircon, pearl, marcasite, and different colored stones. 

Since beginning operations in June 2019, the organization has grown rapidly. Growth has been mainly extra special over the past 6 months, with sales having grown ~4.5x in comparison to pre-COVID levels. The majority of sales are from the organization’s websites, with market presence contributing most effective to ~15%. The organization has continually geared toward retaining capital performance and is presently breakeven.

The startup plans to utilise the freshly raised finances in the direction of product development, constructing a committed cell app to make bigger its virtual presence and partnering with main stores to power its offline business. It additionally objectives to leverage its marketplace positioning to attraction to a worldwide audience.

Name & Logo:

Revenue:

GIVA sells lab tested, BIS hallmarked silver jewelry of 92.five purity. Currently, the business enterprise is promoting silver jewelry withinside the rate variety of Rs 500-Rs 8,900 thru its on-line platform. The emblem currently partnered with retail chain Shopper’s Stop to reinforce its offline presence in metro cities. The jewelry store is in talks with different retail chains including Reliance, Centrum, and Lifestyle and is in all likelihood to open 20 to 30 franchise shops withinside the coming months.

Women customers withinside the age institution of 30-forty are more and more more moving closer to on-line shopping for as silver jewelry at decrease rate band fits their requirement at a time while earnings tiers have long gone down in view of the pandemic.

The business enterprise is dispatching extra than 35,000 parcels in a month at present, he added. According to Agarwal, GIVA has to date invested Rs 24 crore into the business, such as Rs 10 crore from funding organization Indian Quotient. He stated there may be no capital requirement at present, however in contact with buyers for destiny expansion.

Funding & Investors:

There are general 6 buyers for GIVA. Sixth Sense Ventures invested in GIVA’s Series A investment spherical. Last year, Indian D2C jewelry startup Melorra had raised $24 Mn in an funding spherical led via way of means of 9Unicorns, Symphony Holdings, Value Quest, Param Capital and own circle of relatives offices. Along with Melorra, GIVA may be competing in opposition to Nykaa owned Pipa.Bella, Voylla, JewelMaze, and others. GIVA’s present day investment spherical turned into a Series A for $10M on January 20, 2022.

“This investment spherical is a testomony to the inroads made via way of means of GIVA withinside the quick span of time and displays the giant increase capability available, pushed via way of means of a tectonic shift in intake styles of Indian customers favouring silver jewelry. We may be using those price range to innovate present day services withinside the jewelry space, amplify our presence globally and increase our on-line and offline income channels,” stated Ishendra Agarwal, founder at GIVA.

Revenue Model:

Bengaluru-primarily based totally silver jewelry startup GIVA has raised $10 million (Rs 74.five crore) in a Series-A investment spherical led via way of means of Sixth Sense Ventures, A91 Partners and different buyers like India Quotient, Grand Anicut Angel Fund and Founder’s Bank Capital.

GIVA, in a quick span of time, has controlled to create goodwill for itself in a aggressive market via way of means of that specialize in delivery 99.five% merchandise inside 24hrs of order affirmation and 30-day no-query requested return, loose delivery. It has production companions throughout five nations to make sure clean designs with the very best first-rate guarantee and targets to satisfy the call for and deliver of silver jewelry.

Other Services Offered thru GIVA jewelry:

GIVA has released a cell app and its merchandise also are offered on different e-trade structures like Amazon, Flipkart, Myntra, Nykaa amongst others. The business enterprise currently roped in actress Anushka Sharma as its emblem ambassador.

Competitors:

There are many competition of GIVA –

• CaratLane – CaratLane turned into based in 2008 via way of means of Mithun Sacheti, Srinivasa Gopalan , with the goal to make lovely jewelry accessible, low-priced and for all time wearable.
• PipaBella – PipaBella is a modern virtual style emblem, imparting modern day style jewelry and add-ons to girls in India.
• Ornate Jewels – Ornate Jewels is a Fine Silver Jewellery emblem. All our jewelry is hallmarked, natural 925 sterling silver with rhodium polish that does not flip black. The stones used are AAA grade American diamonds & created artificial stones.
• Kit Heath
• Imeora – Imeora makes a huge variety of jewelry such as clothier jewelry, agate necklaces, silver earrings, shell pearl necklaces, pearl earrings, clean water pearl necklaces, silver rings, and herbal stone necklaces. Some in their jewelry is made the usage of stones like tiger’s eye, obsidian, black obsidian, magnetic haematite, black onyx, rose quartz which can be believed to offer power, protection, and balance.
• Tipsyfly – Tipsyfly in lots of methods is a party: a party of favor, individuality, femininity and power. Our efforts are directed closer to making sure that the twenty first century female in India has the posh of favor picks with out the economic woes that historically include accent shopping.
• Irasva – A present day confluence primarily based totally at the concord of  ideologies, Ira and Sva – the affection for self and a love for expression, an inseparable concord of self-love referred to as Irasva turned into born. The essential reason is to encourage girls to create, sense lovely and specific themselves with self belief in each moment.

Latest News:

• January 2022: GIVA raises $10 Million.
• January 2022: Silver jewellery startup GIVA plans to open 3 standalone stores, eyes Rs 200 cr revenue in FY 2022-23.

Future Plans:

GIVA will soon be launching personalized jewellery and men’s collection, which is a popular demand from our customers.

GIVA is expecting a three-fold jump in its net sales at Rs 80 crore during the current financial year, on the back of strong demand. The company had achieved Rs 3 crore net sales in the first year of its establishment in fiscal 2019-20. The net sales of the company grew to Rs 27 crore in 2020-21.

“We are planning two to three standalone stores across metro cities like Delhi, Mumbai. Once we pilot across tier one metro cities, the second step would be to go to tier two cities,” said Agarwal.

Speaking to PTI, Founder of GIVA, Ishendra Agarwal said, “Our sales were at Rs 27 crore last year. We are expecting an average monthly sales of Rs 6 to 6.5 crore this year, taking the total net sales to Rs 80 crore.”

Some FAQs About GIVA Jewelry:

Who is proprietor of GIVA jewelry?

GIVA became based in 2019 with the aid of using Ishendra Agarwal, Nikita Prasad and Sachin Shetty.

What is the anticipated transport date of my order?

We paintings with all main logistics companions in India to make sure easy and well timed transport of your jewelry. It may take us upto forty eight hrs to dispatch your order, as soon as the order is confirmed. Once your order has been dispatched from our warehouse, deliveries are finished inside 4-6 commercial enterprise days.

Is GIVA jewelry profitable?

The agency had carried out Rs three crore internet income withinside the first yr of its established order in financial 2019-20. The internet income of the agency grew to Rs 27 crore in 2020-21.

My product isn’t always introduced yet. The range given with the aid of using courier companion isn’t always reachable. How to touch them?

Please attain out to us together along with your registered phone/email & order range and we are able to increase the problem to the delivery companion to your behalf.

I would love to recognize approximately your go back coverage?

We provide a 30-day go back coverage on all our products, for all unused and unworn gadgets, no questions asked. If you are now no longer glad with the gadgets you’ve got got received, please write to us at care@GIVA.co and we’re glad to help!

Please notice that the gadgets have to be lower back of their authentic packing and need to now no longer had been used. GIVA reserves the proper to procedure refunds after checking the lower back gadgets. No returns could be well-known after 30 days.

Will stone shadeation get discolored?

You can purchase our color stoned jewelry with warranty that the colors will now no longer fade with each day use. Please keep away from any bodily damage or different publicity to any acidic chemical substances and the stones on your jewelry will live excellent as new!

Can you provide me a custom bargain code?

We recognize which you are seeking out the first-rate deal. Please notice our widespread relevant coupons are to be had at the website. Further, we run a few bargain campaigns round numerous festivals. For greater information on reductions and first-rate deals, please enroll in our newsletter!

What is the dimensions of ring?

All our earrings are adjustable, so they’re unfastened sized!

Can I go back the order located on CRED?

If you’ve got got located the order via CRED, we reqest you to attain out to the CRED group for information on go back window and coverage.

Conclusion:

GIVA made its way through big names and becomes famous. Now GIVA is going to make some of the historic moves in its way.

Twinkle Jain

Twinkle Jain is an experienced content writer with a strong focus on creating daily trending articles related to business, startups, trending news, and viral internet topics. With a sharp eye for current events and market shifts, Twinkle excels at producing timely, engaging content that captures the essence of what’s hot and relevant in today’s fast-paced digital world.