The Bengaluru-based D2C jewellery brand GIVA is set to raise ₹450 crore in fresh funding at an estimated valuation of $374 million, as it continues to strengthen its position in India’s fast-growing affordable luxury market.
Founded in 2019 by Ishendra Agarwal, Nikita Prasad, and Sachin Shetty, GIVA began its journey with a focus on authentic 925 fine silver jewellery. Over the years, the brand has expanded its product portfolio to include 14K and 18K gold jewellery as well as lab-grown diamond collections, aligning itself with the growing consumer shift towards sustainable and modern luxury.
Though GIVA started as an online-first brand through its website, it has quickly evolved into an omnichannel player. Today, it retails through 199 physical stores across India, primarily in tier I and tier II cities such as Bengaluru, Pune, Mumbai, Delhi NCR, Hyderabad, Ahmedabad, Surat, Indore, and Dehradun. The brand has also adopted a shop-in-shop model, partnering with large-format retail chains like Shoppers Stop to expand its offline footprint.
GIVA reported operating revenue rising by 66% year-on-year to ₹273.6 crore. However, the company’s net loss also widened to ₹58.7 crore, up from ₹45.2 crore in FY23. The increased loss is primarily attributed to a surge in raw material procurement costs, particularly for precious metals a common challenge faced by jewellery brands amid global pricing volatility.
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