Palmonas a jewelry brand owned by Shraddha Kapoor is a symbol of the modern ask of jewelry. They provide easy-to-wear modern designs in gold-plated jewelry which is easy to handle and afford as well. Pallavi Mohadikar and Dr. Amol Patwari are Palmonas founders. Palmonas is a brand covering the needs of Gen Z customers.
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Palmonas Founder and Idea Behind The Brand
In 2017 Pallavi Mohadikar started her journey with a saree brand Karagiri. Karagiri was digital first saree brand which Mensa Brand later on acquired. Pallavi came up with an affordable jewelry brand when she faced skin reactions to imitation jewelry. Pallavi Mohadikar’s husband Dr. Amol Patwari who is an orthopedic surgeon she discussed the same problem.
Providing high-quality jewellery at affordable prices was the USP of Palmonas. It is specially designed as a sleek look and handy design for modern women. Shraddha Kapoor owns this brand with Palmonas Founder Pallavi Mohadika and Dr. Anmol. It works on the D2C model to take leadership on digital platforms in an Indian-made jewelry brand.The rising demand of innovation and craftsmanship in India has helped Palmonas grow as a leader in India’s growing affordable luxury jewelry segment.
Palmonas’ Growth Model and Market Performance
Palmonas came up with an affordable Jewellery idea that requires maintenance every four years. Since they polish their jewelry with gold, you can ask them to re-polish it. They are highly focused on digital selling right now. It’s a D2C brand built on e-commerce platforms. Palmonas’ founder has a very strategic and approachable business model to enhance their brand. They cater to the Indian youth market with affordable jewelry that is good for every skin type.
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Palmona’s Shark Tank India Pitch
Palmonas founders entered Shark Tank India season 4 with ₹1.26 crore ask for 1% equity. Palmonas already has 3 founders with an equity split of Shraddha Kapoor (21%) Pallavi Mohadikar (50%) Amol Patwari (29%). Everyone has a different point of view as Vineeta said she thinks it’s a depreciating asset so she was not comfortable investing in Palmonas. On the other side Shark Kunal Bhal Said that brand has already crossed the early stage, so right now they might not need his expertise. In the end Palmonas Founder Pallavi and Dr. Amol secured the deal with Namita Thapar and Ritesh Agarwal with ₹1.26 crore for 1% equity and 5% royalty until ₹1.25 crore was recovered.
Conclusion
Palmonas, the jewelry brand owned by Shraddha Kapoor, is a revolution in the jewelry segment by offering affordable luxury jewelry with a focus on quality, design, and accessibility.
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