Palmonas

Palmonas is India's first demi-fine jewelry brand, pioneering an emerging segment that bridges the gap between traditional gold jewelry and fashion accessories. The company quickly established itself as a disruptive force in the Indian jewelry market. In 2024, Bollywood actress Shraddha Kapoor joined as a co-founder, bringing significant visibility and growth to the brand.

Core Products & Offerings

• Contemporary demi-fine jewelry crafted from 925 sterling silver with 18k gold vermeil plating

• Diverse product categories including necklaces, earrings, rings, bracelets and mangalsutras

• Price range between ₹800 and ₹5,500, making luxury accessible

• Pieces featuring 2.5-micron thick gold vermeil (five times thicker than standard gold plating)

• Lifetime warranty on plating, ensuring customer confidence

Business Model & Revenue Streams

Palmonas operates a multi-channel business model with a strong emphasis on direct-to-consumer sales. The company has successfully built a scalable revenue structure that leverages both online and offline channels while maintaining healthy margins.

• Direct Online Sales (70%): The company's website serves as its primary sales channel, offering the highest margins and direct customer relationships

• Marketplace Sales (20%): Presence on major e-commerce platforms including Amazon and Flipkart

• Retail Stores (10%): Physical retail locations in premium locations, with significant expansion planned

Customer Segmentation

• Core Audience: Millennials and late Gen Z consumers aged 20-40 years

• Primary Personas: Educated professionals and young mothers

• Gifting Segment: 40% of orders are for gifting purposes

• Previous Customers: Many have previously purchased from brands like CaratLane and Tanishq but seek better value for daily wear

Growth Strategy

• Retail Expansion: Plans to open 40-60 stores in FY 2025-26, including 25 franchisee stores across major Indian cities

• International Growth: Targeting high-potential markets including the US, Middle East and Southeast Asia

• Product Innovation: Expanding into lab-grown diamonds (LGD) and other new categories

• Capital Raise: Planning to raise $3 million in pre-series A funding, with 40% allocated to marketing

• Technology Investment: Implementing AI-driven personalization to enhance the customer shopping experience