The Ledger
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Agarwal: Silver lacked major brands like Tanishq to establish quality standards
“In gold because you have so many brands, right? You have Tanish, Kalyan Malabar who are setting the standards of quality, setting the standards of this is the serviceability we need to give to the user. We need to offer buyback to the user, et cetera. In silve…”
Agarwal: Gold jewelry making charges are 20x silver per kilogram
“So, if you buy one kilo gold jewelry versus one kilo silver jewelry, then gold's making charge will be twenty-x silver.”
Agarwal: Modern Indian women prefer multiple lightweight sets over heavy gold
“Women don't want to buy, if you ask the modern women, they don't want to buy one kg I want to buy a set of 10 or five lakhs for one lakhs for 10 sets They need 10 sets because they can wear different occasions”
Lunia: D2C brand GIVA does 25-30 crore monthly net revenue
“They're like, Almost some 25, 30 crores of revenue monthly, monthly net revenue, right?”
Amazon US had 46 silver jewelry bestsellers compared to India's one
“Amazon has this top hundred best seller in every category. I looked at India top hundred best seller and there was one silver
Product and rest all were artificial.
And I looked at that similar data for U.S. And for Germany.
U.S. Had 46 silver products out of h…”
Agarwal: GIVA received zero orders in its first three months
“When we were starting for the first three months, we didn't get any order.”
Agarwal: India's annual silver jewelry consumption is roughly 2,300 tons
“If you look at the silver consumption last year, if you look at the silver consumption in jewelry only, so it was around 2300 tons.”
GIVA fully outsources manufacturing across five countries
“So, we don't we don't do any manufacturing. All our manufacturing is outsourced to our manufacturing partners. And this is our India, China, Thailand, Turkey, Italy, and five countries, my manufacturing partners.”
Agarwal: 70% of GIVA's business is online
“Now, the majority of business is online. Now, our 70% business is online.”
Agarwal: GIVA operates about 89 stores, with 86 being profitable
“So for example, now we have around 89 stores. And in this case, 86 stores are all profitable.”
First Cheque's breakout portfolio startups include GIVA, Fashinza, and Fleetx
“So I would say Jeeva. Jeeva is doing really, really well. It's a DTC silver jewelry brand. Fashions are doing really, really well. It's a BtoB marketplace for the fashion supply chain. Then FleetX is doing really well. It's a SaaS company which enables fleet o…”