Affordable yet chic jewellery was almost non-existent in the Indian market. There existed two extremes: either buy gold or opt the cheaper metal options which changed colour after a few uses. Ishendra Agarwal appeared as the ideal knight in shining armour to the rescue of Indian women with the launch of the one and only: Giva
How it all Began
Tired of his corporate job in BCG, Agarwal who is an alumnus of IIT Kanpur, was out looking to pursue something that actually interested him. He met co founder and friend Nikita Prasad and pitched the idea of starting a reasonably priced and quality based jewellery brand using only noble metals. With a background in fashion from the National Institute of Fashion Technology (NIFT) and a solid foundation in the jewellery industry, Nikita brought the most important ingredient to the table: her expertise.
Next followed an extensive research of the market and consumer needs following which Aditya Labroo, an alumnus of IIT Kanpur and IIM Calcutta, was welcomed on board and Giva was born.
Growth Trajectory
The brand did not receive any orders in the first couple of months. But with persistent efforts of redesigning and improving the quality, sales started kicking in. The brand was launched with a seed capital of Rs.10,00,000. In the financial year 2023, the company nearly doubled its revenue from ₹84 crore in FY22 to ₹165 crore. It has been a steady upward trajectory following this humongous success. GIVA has so far raised $105 Mn (more than INR 870 Cr) from investors like PeakXV Partners, Premji Invest, Blume Ventures, and Titan Capital.
Marketing Turns the Table
One of the main reasons behind the brand’s success is its association with influential celebrities. The startup’s tie-up with Neha Kakkar has proved very beneficial as she is commonly perceived as a sensational Bollywood singer.
But what really changed the game for Giva was when Anushka Sharma became the brand ambassador. With her effortless beauty, charm and decency, Sharma attracted a major chunk of the target market and hugely contributed to the brand’s increased profits. Over the last five years, GIVA has partnered with various celebrities like Neha Kakkar, Shruti Haasan, Diana Penty, and Bhumi Pednekar to promote exclusive collections.
What makes Giva Different
The brand is very clear about using only clean metals to avoid infections and irritations. It also offers exciting deals like lifetime replatement that adds to its allure.
But most importantly, it solves the problem of providing affordable quality jewellery in the market. “We saw that women in the West could buy jewellery in the range of Rs 9,000-10,000. Why did Indian women have to spend so much money on fine jewellery?” says Ishendra in one of his interviews. Most existing brands at that time offered fine jewellery made out of gold. Other existing options were artificial ornaments, which are not long-lasting and often lead to allergic reactions.
Thus, in a time of urgent need Giva appeared as the perfect solution, with it’s stylish and chic silver jewellery collection. It has grown to become the largest D2C jewellery brand in India, earning people’s trust as the go-to choice for gifting.
The jewellery startup plans to hit the capital market in three years with a deeper and wider presence and greater acceptance. Giva’s journey from a silver jewellery startup in 2019 to a ₹510 crore business in 2025 is a testimony to how one can start small but eventually with the right amount of hard work, determination and grit, successfully make it big.
Also read: GIVA Jewellery Marks Major Milestone with 200th Store
