How GIVA's Fine Jewelry Empire is Growing at 100% YoY

GIVA eyes 300 stores in 2 years and Rs 1500 cr revenue in 5 years!

- VAISHNAVI GUPTA

Coming from a business family involved in small enterprises in Nagra, Ishendra Agarwal pursued his bachelor›s and master›s degrees at IIT Kanpur. Afterward, he joined BCG as a management consultant. During his time in the corporate world, particularly within the jewelry segment, he observed that India, being the world›s secondlargest consumer of jewelry, had a significant market gap. Most jewelry brands in India, including Tanishq, Kalyan, Malabar, CaratLane, and BlueStone, focus on fine jewelry priced above Rs 30,000. This high price point makes it challenging for women to purchase and wear such jewelry regularly, whether for office wear or small gatherings.

In contrast, international brands like Pandora and Mejuri offer fine jewelry at more accessible price ranges, with average order values between Rs 12,000 - 15,000. This observation highlighted a need for a fine jewelry brand in India that provides quality pieces at a more affordable price point, allowing women to purchase jewelry frequently without worrying about significant expenses.

Inspired by this insight, he founded GIVA to fill this gap in the market. “Our goal is to create a brand where women can effortlessly buy beautiful, fine jewelry without having to consider substantial savings or budget constraints.

Nationwide Store Expansion

Currently, the brand has approximately 130 stores operating across India, with about 50 percent of them located in Bengaluru and Delhi – Bengaluru has 32 stores, and Delhi has 34 stores. The remaining stores are spread across other Tier I cities like Mumbai, Pune, Kolkata, and Hyderabad, as well as Tier II cities such as Dehradun, Indore, Lucknow, and Kanpur.