1. GIVA Jewellery eCommerce Case Study

In this blog, we are going to share the case study of one of the fastest-growing jewellery eCommerce in India. You might or might not be aware of it and the name of the brand is GIVA. GIVA is an Indian jewellery brand and they have launched its own website in 2019. The brand has generated 200 crores of revenue within just 3 years of launch. It will be exciting to know how with so much competition during the launch, they have arrived successfully in the market, sustained, and now have become one of the leading companies in its category. 

In this article, we will understand the whole business model of GIVA. For example, how they have started, how they are growing, and their marketing strategy. Most importantly you will learn how you can learn and launch your own jewellery startup. 

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About GIVA Jewellery eCommerce

GIVA is an Indian eCommerce jewellery brand. It sells online sterling silver jewellery. Their complete sales happen online. For online sales, they have created a very simple website. Now, they are also going to open their offline stores. 

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How GIVA Started Their Business

GIVA was started by 3 of its founders, Ishendra Agarwal, Nikita Prasad, and Sachin Shetty. Ishendra Agarwal is the CEO of GIVA and he is a pass-out of IIT Kanpur. He owned one more startup before GIVA and also had a job in a consultancy firm. He has a very good grip on business from starting only. Also, he has a family background in the jewellery business which helped him a lot with this business idea.

Nikita Prasad is a jewellery designer who completed her education at NIFT. He contributes to her design talent to create unique and innovative silver jewellery. Sachin Shetty is an investment associate who helped a lot in the funding of GIVA. 

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The combination of all these 3 founders is ideal to initiate any startup. 1 has expertise in business, 1 in product designing and 1 has expertise in funding. The founders of GIVA made their family business a base and started their own business in their own way. After that, they modernize that business and scale online. Their initial investment in the business was 10 lakh rupees. After that, by continuing to invest, slowly they raised funding of over Rs. 6,75,000 lakhs.

When they started, their first year (2019) revenue was 3 crore rupees. The second year’s (2020) revenue was 27 crore rupees and by 2021 that means the third year’s revenue was 100 crore rupees. This is enough to show how fast they are growing. They deliver more than 35000 parcels each month. Let’s understand what they have done which has given them rapid growth. 

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GIVA Business Model

When they launched their product in the market, they already had very big-big competitors including Bluestone, Caratlane, Melorra, etc. These jewellery brands were already leading the Indian market. 

The founders of GIVA analyzed the jewellery market. In the US, on average a woman spends very less on jewellery as compared. Whereas, In India, this expense was very high. There were 2 major reasons behind this. The tradition and culture of India compel Indians to buy Gold jewellery. The 2nd main reason is gold is an asset, but not a liability. Many times people buy jewellery for investment too. 

When we see the market of India, 2 types of jewellery are trending; pure gold jewellery and artificial jewellery. One cannot sell gold jewellery online as it is very expensive. It is very risky to ship gold jewellery online. On the other hand, there is much competition in artificial jewellery in the market and it is a challenge to bring something unique. 

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The gap between both the products is taken as the USP (unique selling proposition) by GIVA jewellery eCommerce. They launched sterling jewellery in the market which gave them great success. All in all silver jewellery is a product that can be profitably sold in eCommerce. There are many reasons for this. Let’s understand them all:

1. Silver is an asset and its online selling is very easy. 

2. It is easy to mold silver and that is why you can make a variety of designs out of silver. 

3. Low-cost inventory.

4. No dead stock. If a stock is not selling, one can mold it again and redesign it. 

5. Small size, easy shipping, and affordable.

Because of all these factors, silver jewellery has become a very good product for online selling.

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The founders of Giva have done their product selection very smartly and created a very simple website too leaving their competitors behind. They have created their website Shopify. Apart from their own website, they also sell their products on Myntra, Flipkart, Amazon, and Nykaa. They also have launched 4 offline stores in Bengaluru. 

These days, they are smartly shifting their business from an online eCommerce business model to an Omni commerce business model. The Omnicommerce business model refers to the model in which you sell both online and offline. This has proven as the most profitable business model.  

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Giva Marketing Strategy

Lets understand the marketing strategy of GIVA which is making them popular with each passing day. Their prime marketing strategy is Influencer marketing. They are investing a lot in Influencer marketing. They have hired Anushka Sharma as a brand ambassador. Everywhere they do marketing with the name of Anushka Sharma only. They use her name and pictures in their website, social media, etc. 

They are using the trust value and fanbase of Anushka Sharma to gain customers for their business. Also, they have created a category with Anushka Sharma’s name on their website. This is known as taking the trust value of a celebrity or influencer to the business. They are using this strategy very well.

Many businessmen invest in more than one influencer at a time, but GIVA jewellery eCommerce is concentrating on only one influencer. They only do marketing with her name and associate their brand with her name. This is their biggest and long-term strategy. The name of the influencer helps to increase the trust value and traffic of the business. 

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The next marketing strategy they use is the traffic they get to their website, they retarget it to Facebook. This is known as performance marketing. This is a digital marketing strategy in which if a person once comes to your website, you can track them again and again, and show your product to them until they become your customer and buy your product. 

If we talk about GIVA, the most important platform for them is Instagram. If you visit their website once, you will see their Ads again and again on Instagram. When people see their favorite product again and again on Instagram, they end up buying that product. Like this their whole marketing strategy is working. They have also started media partnerships recently. 

So, this is their whole marketing strategy. They invest in Influencer and Performance marketing. 

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How You Can Start a Brand Like GIVA

It is a 5 step process to start a brand like GIVA jewellery eCommerce. Let’s increase awareness about these 5 steps:

1. Choose a product that can be an asset

Firstly, you should choose a product whose value might increase in the future. Select a product that can be treated as an asset in the future. It is very tough but if you are able to find it, you can easily create a successful eCommerce business, using that product.

2. Product quality and design control

You should be able to control the quality and design of the product you choose, as a brand. Unless you are not able to make changes in the product according to the customer, you are not able to grow your business organically. 

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3. Don’t spend too much money on a website

Many times, people spend too much money while creating a website in the eCommerce business. But in reality, there is no need for a website in an eCommerce business. With the help of WhatsApp API, you can deal and interact with thousands of customers through WhatsApp. Also, you can sell products and share product catalogs with the API. 

You can start a complete business through WhatsApp and scale it through WhatsApp Business API. After that, you can create a social commerce website.  

Ultimate sales happen through WhatsApp after the interaction. Whenever you interact with customers, sales become easy and you will get to know the exact demand of the customer. 

You can create a social commerce website through our website free of cost. As your business runs and grows, create an eCommerce website through Shopify. 

4. Gain Trust

People get confused about how you can gain trust, how to scale, and how to bring maximum people to the website. The aim should not be to bring more and more people to the website, but your major aim should be how to gain trust. You should focus on finding an influencer to increase your trust level. When your trust increases the people automatically come to your website and get converted into paying customers.

Your major aim for an eCommerce business is to bring maximum sales instead of unnecessarily bringing thousands of people to the website. Sales don’t happen by bringing thousands of people to the website, but it happens by generating trust. After gaining trust, you can get traffic through paid marketing

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5. Be open while spending money on eCommerce

eCommerce is not a business you could do without any investment. For success, you need to invest both your money and time. You need to stay open for money to scale your business. The more you invest money, it will help increase your potential in the future. To do an investment in the future, you should have the capacity to invest in the present. Hence always remain open to investing in eCommerce business initially and also keep on investing at the right place and time as your business grows.

By using these strategies, you can also create a successful eCommerce brand like GIVA. According to IBEF, the market of gold and silver will increase by 8.34% by 2027. It will grow at a rapid pace. The market will become $120 billion dollars by 2027. It is a big market and many such brands like GIVA jewellery eCommerce can easily survive. 

To take our services to launch your eCommerce brand, contact us now.

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Frequently Asked Questions

Q. Who is the brand ambassador of GIVA jewellery?

Anushka Sharma

Q. Who is the owner of GIVA jewellery?

Ishendra Agarwal, Nikita Prasad, and Sachin Shetty

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