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Fine eating might value huge bucks, however Ishendra Agarwal, the founding father of silver jewelry model GIVA, insists that fantastic jewelry now not does. The firm seeks to supply reasonably priced and good high quality ornaments—the type that, although purchased as a birthday current on your finest pal, are arduous to half with and find yourself in your jewelry field! Or so suggests as an amusing commercial that includes model ambassador and Bollywood actor Anushka Sharma.
“Earlier, the only cheap alternatives available in the market were imitation ones and the so-called “925 silver” ones (i.e. sterling silver), which contain metals such as nickel that are harmful and banned in many countries. This is what we wanted to change,” says Agarwal.
The model’s customers majorly fall within the 18-45 years age bracket, with most of them being ladies and a few males seeking to purchase jewelry for gifting functions. GIVA’s in-house analysis and forecasting workforce stays on high of latest world and native—’glocal’—designing developments whereas conserving the tip client in thoughts at each stage, says the corporate’s founder. Further, every bit of jewelry comes with a 30-day return interval and a six-month guarantee, which, Aggarwal claims, is unprecedented within the business.
“Our artisans are the real stars; they are the ones who make our beautiful designs come to life exactly how we visualize them,” he says. Many of GIVA artisans have inherited their talent from households which have been engaged on this craft for generations. “In order to transition them to our glocal designs, we share our learnings with them in the format of a playbook, which ensures that they can be on-boarded.” However, not all make it by the corporate’s stringent recruitment and coaching course of.
In India, silver filigree karigars (craftsmen) are one of the vital susceptible sections within the jewelry provide chain, struggling exploitation by the hands of center males and high-end retailer house owners. “GIVA provides the most competitive compensation for their efforts along with best-in-class infrastructure and that is why a lot of them have been with us since the beginning of our journey,” insists Agarwal.
As a D2C model, the startup’s merchandise can be found by a number of channels: GIVA web site, Android app, unique shops, e-commerce platforms like Amazon and Flipkart, in addition to the offline shops of Shopper’s Stop, Reliance Trends and Pantaloons. While partnering with such retail giants will increase a model’s attain to new audiences, it additionally creates progress constraints by placing strain on the complete infrastructure.
Nevertheless, Aggarwal asserts, “My team and I haven’t been one to shy away from any challenge.” He follows it up by saying that success on this business depends upon constructing one’s area of interest and that GIVA achieved the identical by the robust activity of manufacturing authentic designs in a market the place tastes change quickly. Advising friends to comply with swimsuit to make it huge within the jewelry sector, he provides, “It’s a general perception that players in this industry do not make a lot of money, but our strong unit economics combined with our growth has changed the narrative of this industry.”