Golden Pursuits

Shop Lune, an early entrant in the online jewellery space with brass and silver jewellery, marked a significant milestone with its foray into the 18 kt fine jewellery segment in 2020. Founder, Sreesha Shetty tells The Retail Jeweller how the brand’s nuanced positioning is building a community with a shared penchant for minimalist and authentic designs.

Shop Lune, a homegrown brand founded in 2012, is shaped by infusing storytelling into retail jewellery. With a background in philosophy, design, and journalism, Shetty blends her creative prowess to build the brand on the cornerstones of unique handcrafts and a growing community of fashion-forward customers invested in similar intellectual quests

EDITED EXCERPTS:

Maithili Patange (MP): Could you tell us about your background and the journey that led to the launch of Shop Lune? What was the core idea and inspiration? 

Sreesha Shetty (SS): In 2012, during my gap year in the UK, I discovered jewellery making, inspiring the birth of Shop Lune on Etsy. Seeing a lack of minimalistic jewellery brands in India, I aimed to craft pieces with narrative depth. Expanding to India, Shop Lune filled a market gap, offering high-quality jewellery for customers craving unique designs. Being a first-generation jeweller with few industry references in India and small batch production in the traditional market did pose challenges, but we thrived.

“Despite COVID-19, in-store fine jewellery thrived, boasting 40% annual growth. Lune Fine met customer demand, offering semi-precious designs in fine materials for existing buyers and attracting new customers.”

Sreesha Shetty, Founder, Shop Lune

MP: You introduced fine gold jewellery in 2020. What initiated that transition, and how is the fine jewellery section performing now?

SS: Transitioning to gold marked a milestone for Shop Lune. Initially silver-focused, our pursuit of lasting, gift-worthy pieces led to the introduction of gold jewellery. Despite COVID-19, in-store fine jewellery thrived, boasting 40% annual growth. Lune Fine met customer demand, offering semi-precious designs in fine materials for existing buyers and attracting new customers.

MP: What is the weight and price range of Shop Lune’s fine pieces? Lune sells fine jewellery pieces at MRP. Customers are conditioned to ask for pricing of metal and making. Comment.

SS: Our 18K gold pieces, ranging from 2 to 50 grams, suit various preferences and occasions, priced between Rs. 11,000 and Rs. 3,50,000. Silver, including 18K gold-plated items, ranges from Rs. 1500 to Rs. 20,000. We adjust prices every six months based on gold prices, updating customers on our website.

“Our crater hoops and bangles are made using hammering techniques. However, other gold jewellery is made using moulds. This has resonated well with customers. Since Alia Bhatt has owned one of these, the demand for these hoops has increased.”

MP: You have talked about sculpting all of Shop Lune’s hoops and bangles by hand and hammer, every single piece, and calling it ‘Our riyaaz’ What is the idea behind this, and how does it appeal to your target audience?

SS: We experiment with these techniques, which are only possible with big pieces. Our crater hoops and bangles are made using hammering techniques. However, other gold jewellery is made using moulds. This has resonated well with customers. Since Alia Bhatt has owned one of these, the demand for these hoops has increased.

MP: How do you profile a Shop Lune customer?

SS: Shop Lune caters to 90% urban women, valuing authenticity and narrative-driven design.

MP: Shop Lune does not claim to be a fully sustainable brand, but there are insinuations of it. Do you think these factors are becoming important considerations for final purchase?
SS: Our tier-1 and tier-2 city customers embrace our growing Lune Recycle section. While not fully sustainable, I design pieces for versatile reuse. Collaborating on ‘Art Projects’ with like-minded brands expands our reach to customers who share our ethos, enhancing our marketing efforts.

MP: What kind of ready inventory do you maintain, and how frequently do you introduce new collections? 

SS: We prioritize quality over quantity with small batches, avoiding excess SKUs and deadstock. Our lean inventory, comprising 50% gold jewellery, is replenished based on demand. We release four collections yearly, each with 36 pieces, ensuring immediate product delivery for customers. Our dedication to craft and customization drives our success, as we offer customers a choice of every design in gold, silver, and non-precious. Over the years, the love for chunky statement pieces has increased from dainty pieces.

MP: Shop Lune conducts #Lunegatherings, a great consumer connect initiative for a primarily online brand. Can you tell us more about it?

SS: We have a book club and host many artists for workshops. We have a space in Bombay for these events. It is a hybrid concept space. These events keep our spirits high and allow us to connect, ideate, and innovate. They extend our circle of influence and deepen our connection with discerning customers.

MP: Currently, you have two experiential studios in Goa and Mumbai. What are your growth and expansion plans?  
SS: We want to open offline stores, each with a distinct identity. With existing studios in Goa and Mumbai, we aim to maintain each store’s distinct identity by ensuring it reflects the essence of its locale while offering a unique and interactive shopping experience.  

Written by Maithili Patange