Since the inception of civilization, jewelry is an integral part of the Indian society and has become an essential part of its tradition and culture. As an accent to beauty, people of all genders use jewelry made mainly from silver, copper, diamond, gold, and platinum. It is possible one of the prominent reasons why the industry of jewelry has been flourishing in the country.
Another common tradition that has been practiced in India is the non-branded family jewelers. A private study stated that 96% of the industry is dominated by family jewelers and the remaining by conventional or big branded wedding jewelers. The point here to be noted is that all these jewels are carefully selected after checking for the perfect balance of design, style, and gemstones.
In a time where online retail has taken over conventional shopping, the jewelry industry is still unaffected. The above-mentioned fact might be one of the reasons why people preferred buying it from their trusted shops.
However, over the years plenty of jewelers have decided to go online. Eventually customers also started foreseeing the benefit of buying jewelry online. But, only a few can match the position of Jewelove. There are several reasons that make this online jewelry platform a trusted one, however, being one of the leading destinations for high-quality platinum jewelry, stands out.
Through our conversation with, Sambhav Karnawat, the founder of the company, we try to get insights into how this company is revolutionizing the jewelry and lifestyle in India while equally focusing on craftsmanship quality and customer-experience.
What is your vision behind your startup? Tell us how the idea came about.
Jewelove is an online platform for authentic platinum jewelry, specializing in platinum love bands, rings, kada, chains & bracelets. My family has been in the Gems & Jewelry business for 4 generations and so, I realized that when a consumer buys a piece of jewelry, there are a lot of overheads involved, like inventory costs, showroom-ing costs, etc. & with my background in technology, I realized that a lot of these costs could be reduced significantly using technology. That is how Jewelove started, way back in the year 2009.
What products do you offer?
We offer the largest collection of platinum jewelry in India, at very reasonable prices. We are an authorized retailer of the Platinum Guild International & every piece crafted in Platinum is hallmarked for Pt 950 & comes with a Certificate of Authenticity issued by the PGI. Additionally every piece has a unique ID engraved inside it which is also mentioned on the certificate as an additional layer of security.
What were the challenges you came across during the inception of your startup?
Initially, the biggest challenge was selling such a precious product online. But with proper certification & hallmarking, talking to consumers, understanding their needs, conversions kept on improving & we now clock one of the highest platinum jewelry sales in India.
Is your company bootstrapped or have you received funding or do you plan on approaching investors?
All that I can tell you is that our consumers help us finance Jewelove!
As the founder, what is your opinion on the current landscape of startup culture in India?
India has a very vibrant startup culture & we are lucky to have such an entrepreneurial spirit in our country. This has already opened up a lot of opportunities for our young population & should keep on improving the scope of work for the young people of our country.
According to you, how important is it to be updated with technology as per your industry sector?
I think, given how the world is changing, one has to be updated with the latest technology irrespective of the industry. All industries today use tech extensively & unless you stay updated, your tech might become backdated.
How do you strategize on scaling your company in the future?
We intend to expand to new geographies, enhance our product lines & maintain our high levels of customer satisfaction to scale up in the future.