Indian Startups in the Limelight: Giva's Modern Twist on Jewellery

If you have seen Anushka Sharma motivate you to buy jewellery in ads in the last couple of years, then you have seen Giva products. In recent years, Indian startups have disrupted various industries with innovative business models, and one such remarkable name is Giva, a modern jewellery brand that’s changing the way consumers think about silver jewellery. With its fresh approach, transparent pricing, and focus on high-quality, affordable silver pieces, Giva has risen to prominence as one of India’s leading jewellery startups. Let’s dive deeper into the story of Giva, its core offerings, and its rapid rise in the competitive world of jewellery.

Giva – A Modern Twist to Traditional Jewellery

Giva is not your traditional jewellery brand. With a focus on silver jewellery, this startup has capitalised on a growing trend in India: the demand for modern, stylish, and affordable jewellery. Unlike the traditional mindset of jewellery being an investment or a luxury, Giva has made silver jewellery accessible for daily wear, special occasions, and everything in between. With its strong online presence, direct-to-consumer model, and unique product designs, Giva is a prime example of how Indian startups are reshaping the jewellery market.

The story behind Giva is shaped by the vision of its co-founders, Ishendra Agarwal and Nikita Prasad, who have combined their expertise in technology, business, and fashion to build a brand that is transforming the silver jewellery sector. Nikita started her career as an intern in a jewellery design department and has a background in fashion from NIFT, whereas Ishendra is from IIT Kanpur and has technical and business expertise in the brand. 

Giva’s Vision: Affordable, Stylish, and High-Quality Silver Jewellery

Founded with the mission to make quality silver jewellery more accessible, Giva focuses on creating stylish pieces that are not only affordable but also durable and high in design. The brand is especially popular among younger customers, thanks to its trendy designs that cater to contemporary tastes while retaining the essence of traditional jewellery craftsmanship.

Giva’s core product line revolves around 925 sterling silver, known for its longevity and beautiful shine. The brand prides itself on offering jewellery that is both chic and timeless, ensuring it appeals to a wide range of consumers.

Key Offerings and Product Range

Giva’s extensive product portfolio includes the following.

• Necklaces & Chains: Elegant designs ranging from minimalistic to statement pieces.
• Earrings: Everything from stud earrings to danglers, catering to diverse preferences.
• Rings & Bracelets: Including stackable rings and versatile bracelets for various occasions.
• Anklets and Pendants: Unique and delicate pieces that complement any look.

The brand is particularly known for its personalised jewellery, allowing customers to engrave their names, initials, or special messages on pieces. This adds a personal touch, making it a great gifting option.

The Silver Advantage: Why Giva Chose Silver as its Core Segment

While the jewellery market in India has traditionally been dominated by gold, Giva has chosen to focus primarily on silver, though it also offers options in gold and diamond. This decision stems from several factors that align with market demand.

1. Affordability: Silver jewellery is significantly more affordable than gold, making it a popular choice for middle-class consumers who seek quality but also need to stick to a budget.

2. Durability: 925 sterling silver offers a perfect balance of strength and elegance, ensuring that jewellery is both long-lasting and beautiful.

3. Flexibility in Design: Silver is a versatile metal that allows for a variety of designs, making it easier for brands like Giva to cater to diverse tastes and create stylish pieces for all occasions.

Silver's popularity is also on the rise globally, with many consumers now opting for silver over other precious metals due to its environmental impact and ethical sourcing.

Funding Journey, Growth & Key Players

The brand successfully raised Rs. 225 crores in a Series B funding round led by Sequoia Capital India, a notable venture capital firm. This funding will help fuel Giva’s expansion plans, including enhancing its product range, scaling operations, and broadening its customer base.

In early 2023, Resha Jain, former Chief Marketing Officer (CMO) of Sugar Cosmetics, took on the role of Chief Brand Officer at Giva. With her extensive experience in branding and marketing, Jain's transition to Giva was expected to bolster the brand’s marketing strategy and help it expand its reach in the competitive jewellery market. 

As of early 2024, Giva's revenue has grown substantially, and it is eyeing a larger market share in the Indian and international jewellery sectors. The company has also made plans to expand its offline presence, complementing its online direct-to-consumer model. By targeting an audience that is both tech-savvy and fashion-conscious, Giva aims to capitalise on the growing trend of online shopping for jewellery.

Strategic Business Model: Direct-to-Consumer (D2C)

Giva’s business model is built around the Direct-to-Consumer (D2C) approach.

• Cut out middlemen: By selling directly to customers via their website and other online platforms, Giva can offer better prices and greater transparency.
• Customer-Centric Service: The D2C model allows Giva to build a closer relationship with customers, offering them more personalised services and a streamlined shopping experience.
• Better Profit Margins: Without relying on retailers, Giva can keep costs lower while investing in high-quality materials and design, ensuring customers get the best value for money.

The D2C approach has allowed Giva to stand out in a crowded market, with its online marketing strategies and strong social media presence helping it connect with younger generations looking for trendy yet affordable jewellery.

Giva’s Future: Expansion and Innovation

Looking ahead, Giva aims to continue innovating within the jewellery market. The company plans to expand its product offerings, introduce new designs, and grow its presence in international markets. With the rise of online shopping, Giva is positioned to capitalise on the growing demand for affordable, stylish jewellery across the globe. 

In addition, Giva is likely to enhance its sustainability initiatives, ensuring its materials are ethically sourced, and the brand remains eco-conscious, an increasingly important factor for today's consumers.