Silver, Stores, and Sparkling Lab-Grown Diamonds Galore

GIVA, an Indian direct-to-consumer (D2C) jewellery brand established in 2019, initially focused on online sales of silver jewellery. Responding to increasing demand, the brand has since expanded its retail presence significantly. Resha Jain, GIVA's Chief Brand Officer, reports that GIVA now boasts over 170 physical stores across India. She highlights that starting as a D2C brand allowed GIVA to establish itself, identify its product-market fit, and scale at a manageable cost initially.

Jain emphasizes the importance of physical stores for jewellery shopping, as it offers customers a tactile experience. This led GIVA to invest heavily in exclusive brand outlets (EBOs). While setting up EBOs requires substantial capital, GIVA’s strategy involves operating lean initially and then scaling up rapidly with raised funds. Jain reveals the brand's ambition to eventually open over 500 stores nationwide.

In a competitive D2C jewellery market, with brands like BlueStone, Ultrahuman, Melorra, Priyaasi, and Amama Jewels, GIVA distinguishes itself by focusing on silver jewellery. When GIVA entered the market, no other brand was significantly targeting this segment. Jain points out that silver jewellery is popular for everyday use and fits well with the Indian market, offering an affordable and stylish alternative to gold.

GIVA has also ventured into lab-grown diamonds, an emerging category attracting consumer interest due to their affordability and clarity. Jain explains that lab-grown diamonds offer the desirable qualities of natural diamonds at a lower cost, making them an appealing option for consumers. This move aligns with GIVA’s strategy to provide unique and relevant jewellery choices to its customers.

Targeting a broad demographic across India, GIVA primarily focuses on women who wear jewellery daily, such as working professionals. The brand is also known for its gifting options, with its jewellery priced between Rs 1,000 and Rs 10,000. Jain notes that the target group includes men, particularly from a gifting perspective, with primary consumers aged between 23 and 40.

GIVA's offerings extend beyond regular jewellery to cater to festive occasions like Rakshabandhan, Diwali, Dhanteras, and Akshay Tritiya. For Rakshabandhan, the brand sells silver rakhis, some of which can be converted into pendants. Jain explains that GIVA's advertising focuses on emotional themes such as happiness and the joy of gifting, employing a 360-degree marketing approach that includes digital, below-the-line (BTL), and store branding.

Influencer marketing plays a crucial role in GIVA's strategy. The brand collaborates with influencers of various scales, from micro-influencers to celebrities, to enhance its reach. In 2021, Bollywood actor Anushka Sharma became GIVA’s brand ambassador. Jain stresses the importance of empowering influencers, stating that they play a significant role in the brand's ecosystem. GIVA's influencer collaborations extend across social media, store visits, and events, contributing to the brand's visibility and engagement.

Some notable influencers GIVA has worked with include Neha Dhupia and Angad Bedi, Mouni Roy, Mahi Vij, Hina Khan, Debina Bonnerjee and Gurmeet Choudhary, Ishita Dutta and Vatsal Sheth, Tina Dutta, and Disha Madan. Jain mentions that even influencers with smaller followings can generate content that resonates with audiences, leading to substantial engagement.

Looking ahead, Jain confirms that Anushka Sharma will continue as the brand's ambassador. GIVA plans to expand its offerings in men's jewellery and lab-grown diamonds, reinforcing its commitment to providing diverse and innovative jewellery options.