Congratulations on GIVA’s recognition in LinkedIn's Top Startups 2024! What do you believe distinguishes GIVA from other companies in the jewelry industry?

Yes, indeed, we’re very proud of this recognition! What sets GIVA apart is our focus on making fine jewelry accessible. For context, most major players in the fine jewelry space in India offer products at premium price points above INR ₹30,000 (roughly US $350). This can often lead to the act of purchasing fine jewelry being limited to important occasions such as weddings, for the most part. However, there is a strong demand, especially among women, for jewelry that can be worn daily, whether for the office during the day, parties, or as they go about their daily routine even, coupled with a desire to have unique designs and varieties available to them; hence, a gap in the market was identified. Prior to GIVA’s entry into the market, there were limited options available at a Pan-India level. We stepped in to meet this need for the modern woman. At its essence, GIVA aims to provide a wide variety of high-quality designs at accessible price points in the fine jewelry space in India.

GIVA started as a cutting-edge online jewelry retailer and now boasts over 100 physical stores. What motivated the shift to brick-and-mortar, and what challenges or opportunities have emerged with this expansion?

When we started GIVA back in 2019, we were a digital-first brand, selling through our own website and marketplaces online. But by 2022, we recognized the need for an offline presence to create a more immersive and personalized shopping experience for our customers. This marked the beginning of our offline journey. Within two years, we’ve opened more than 170 stores across 25 cities. Our realization was that today’s consumers seek more than just a product; they value in-store experiences as well, which is an opportunity. Jewelry, as a product, tends to be a very personal choice, the purchase of which is often consultative in nature as well. So when building a brand for a product of this sort, it was imperative to be close and personable with our customers and provide them with the shopping experience traditionally associated with jewelry, while also continuing to be conveniently accessible through existing online modes as well, of course.

I would say the biggest challenge in building offline retail so far has been keeping employees on the front line motivated. Offline retail is like steering a juggernaut; its success relies heavily on the dedication of the in-store staff, who are direct representatives of the brand. So that has been a key consideration.

Affordability, sustainability, and quality are core values at GIVA. How do you balance these while introducing new offerings such as lifetime gold plating and lab-grown diamonds? How do these innovations align with your brand’s market positioning?

Absolutely, affordability, sustainability, and quality are the core values behind GIVA, and all of our initiatives align with these principles. As I mentioned, GIVA is all about high-quality jewelry at accessible price points. And the shift to lab-grown diamonds (LGDs), too, was driven by this very commitment to affordability and sustainability. For context, LGDs are priced at a 50% to 60% discount compared with mined diamonds, which makes them more accessible to customers who have never purchased diamonds before due to their high price points, staying true to the value of affordability. LGDs are also more environmentally friendly compared with mined diamonds, which I believe really reinforces our commitment to sustainability. To put it succinctly, GIVA’s aim is to bring beautiful, responsibly made jewelry within the reach of anyone who wants it. And it makes me proud to say that initiatives such as the launch of LGDs and lifetime plating further reinforce our commitment to our values, really allowing us to walk the talk.

Looking ahead, what is your long-term vision for GIVA, and how do you plan to navigate evolving trends in the jewelry industry?

My long-term vision for GIVA is to become an essential part of every woman's jewelry collection, particularly for those ages 20 to 50, while also continually expanding our customer base across age groups. Currently, we have 170 stores in 25 cities. We plan to open 150–200 stores annually, and my hope is that we reach over 1,000 stores in the next four to five years. We strive to keep strengthening our position in Tier I cities, of course, but also plan to enter more Tier II cities in the years to come. At present, we are currently in two countries—India and Sri Lanka—and the aim is to expand into Southeast Asian markets in the near future too. So much more to achieve and grow this company and purpose, so it’s very exciting indeed!

With a background in consulting, investing, and entrepreneurship, what inspired you to enter the jewelry industry?

I find that consulting and investing have each shaped my journey in their own ways.

Consulting taught me how to evaluate things on a macro level, skills such as analyzing different markets to identify trends and patterns. This actually led me to notice that jewelry was starting to be viewed as more of a fashion choice than an investment, in the US and Europe. And when I compared that with the Indian market, I realized that there was actually no brand building on this trendline yet, and a gap in the market was sought to be filled.

Prior to GIVA, I had tried my hand at a couple media ventures as well and, look backing, I see how valuable data-driven decision-making and customer research was for ventures. Both critical skills I picked up during my time at BCG, in fact.

On the other hand, my stint in the investment industry allowed me to understand what it’s like to be in a founder’s shoes, and the navigation of early-stage challenges. It helped me learn so much about and from the mistakes new founders often make and what it really takes to steer a young company through those uncertain early stages. I believe that experience brought me closer to building GIVA with the right mix of insight and resilience.

How has your experience at BCG influenced your approach as an entrepreneur, and what advice would you offer professionals transitioning into entrepreneurship in a new industry?

I speak to a lot of early-stage founders, and my foremost advice is always this: Focus on execution above all else. Planning, strategizing, and preparing are merely 5% of the recipe. The remaining 95% is all about putting in the effort and executing with relentless determination. So keep your head down, avoid distractions, and make steady progress every single day.

Secondly, keep the customer at the center of every decision you make. Make sure to understand your audience deeply and thoroughly, ensuring your product or service genuinely solves a problem they face. I’ve found that this approach not only enhances product value but also builds lasting loyalty, which is one of the most critical assets any brand or company has in its arsenal.