GIVA bids to expands retail footprint, aims for 500 stores across India 

The move accompanies GIVA’s foray into lab-grown diamonds and men’s jewellery

Mumbai: GIVA, the Indian D2C jewellery brand founded in 2019, plans to significantly expand its retail presence by opening over 500 offline stores, as shared by Resha Jain, the company’s Chief Brand Officer. This move accompanies GIVA’s foray into lab-grown diamonds and men’s jewellery. 

Initially an online silver jewellery brand, GIVA has responded to increasing demand by establishing 130 physical stores across India. Jain explains that the direct-to-consumer (D2C) model allowed GIVA to establish its brand, find a product-market fit, and scale efficiently.  

However, the tactile nature of jewellery shopping has driven the brand to invest heavily in exclusive brand outlets (EBOs). “Investing in EBOs requires substantial capital, but it aligns with our strategy to scale quickly. Our vision is to have over 500 stores nationwide,” Jain stated. Since its founding, GIVA has introduced 14K and 18K gold and lab-grown diamond jewellery and currently operates over 50 stores across India.  
 

In the competitive D2C jewellery segment, which includes brands like BlueStone, Ultrahuman, and Melorra, GIVA distinguishes itself with its focus on silver jewellery. Jain notes that when GIVA launched, the market lacked significant players in the silver jewellery space. GIVA’s pieces, ranging from Rs 1,000 to Rs 10,000, cater to everyday and office wear, making them popular for gifting, especially among consumers aged 23 to 40. GIVA also targets festive occasions such as Rakshabandhan, Diwali, and Dhanteras, offering unique items such as convertible silver rakhis that can be worn as pendants. Jain emphasizes the brand’s marketing approach, which leverages emotional themes and uses a mix of digital, below-the-line (BTL), and store branding strategies. 

Last year, the brand’s efforts towards expansion were significantly bolstered when GIVA raised Rs 270 crore ($33 million) in a Series B funding round led by Premji Invest, with participation from Aditya Birla Ventures, Alteria Capital, and A91 Partners. The brand intends to work these funds towards GIVA’s omnichannel expansion and reinforce its position as a leading platform for minimalistic jewellery and affordable gifting options.   

Retail Jeweller India News