Authentic up and coming silver jewellery brand Giva is owned by Ishendra Agarwal, Nikita Prasad, and Sachin Shetty. This brand was founded four years ago, i.e., in 2019, and slowly became one of the fastest-growing D2C brands in India. It is a Bengaluru-based brand. They have more than 50 retail stores in India across seven cities and are still growing to expand more.
Giva specialises in both modern-style jewellery and traditional-style jewellery. It is one of the first silver jewellery brands that provides mostly authentic and fine silver jewellery. The target audience for this brand is the millennial generation and Gen Z, who are shoppers who buy everyday wear regularly. The brand has recently launched a Zodiac-inspired selection of office-appropriate jewellery and a range of gold-plated, adjustable rings; they announced this on Facebook.
Giva recently raised a Series B round of Rs 200 crore, which was led by Premji Invest as lead investors in this round. The previous round included investors like Alteria Capital, A91 Partners, and Aditya Birla Ventures. That previous round, which they had raised, was worth 17 million dollars from investors like AngelList, Titan Capita, Indian Quotient, and IQ Capital to help the brand’s omni-channel expansion.
Except for this round, they had also taken a secondary sale transaction of Rs 70 crore in which the investors and stakeholders were not disclosed for privacy and confidential reasons, as reported by The Economic Times.
An ET Tech reported the statement Varun Khandelwal, Principal, Investments, Premji Invest, gave, that is, “Silver jewellery is a $4 billion opportunity in India with the organised market share at less than 7 percent.” He added, “Silver jewellery offered an attractive alternative to other jewellery options such as gold and platinum at an affordable price point for casual and everyday use. Giva has emerged as a category leader with its focus on fine silver jewellery, design offerings, and customer centricity. We are excited to partner with Giva in its next growth phase and help build a leader in the space with a truly omni-channel play.”
The owner and CEO of Giva, Ishendra Agarwal, gave an appreciative statement to Premji Invest regarding the investment, saying, “We look forward to leveraging Premji Invest’s omnichannel playbook across several consumer brands and retail businesses to strengthen our leadership position and establish a pan-India presence.” Premji Invest has been known to invest in many great upgrading omnichannel commerce brands like FirstCry, Lenskart, and many more.
Making an investment in this brand comes in between different D2C brands that are showing greater progress for omnichannel plays in the wake of demand slowing down in the jewellery and apparel categories. The competitors