Jewellery brand Giva to open three standalone stores
Silver jewellery business Giva plans to open three brick-and-mortar stores in metro locations in the coming three months with and investment of Rs 2 crore ($2.7 million).
“We are planning two to three standalone stores across metro cities like Delhi, Mumbai,” brand founder Ishendra Agarwal told ET Retail. “Once we pilot across tier one metro cities, the second step would be to go to tier two cities.”
The business expects to reach a revenue total of Rs 200 crore in the upcoming 2023 financial year. Over the past year, Giva sent our over 60,000 orders, according to the business, and expects to report a revenue total of between Rs 90 crore and 100 crore by the end of the 2022 financial year on March 31.
Ishendra Agarwal launched Giva in 2019 and the brand retails a range of mostly lightweight silver jewellery with modern designs. The brand recently released its Valentine’s Day campaign which includes a series of videos titled ‘Inching Closer’, the brand announced on Facebook. The series features interviews with couples about their love stories and photographs them in Giva jewellery.
The brand also retails in numerous Shopper’s Shop stores as part of its recent partnership with the multi-brand retailer. Giva plans to partner with other multi-brand retailers to open franchise stores in the coming months.
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