With the rapid decline of family jewellers and the need for services provided by the family jewellers on the raise, the obvious demand is undermined. In the coming years the gap is only going to become bigger.
Current Status
We are a revenue generating company. Require funding to scale up.
Market
Our target audience are men and women across Indian Tier 1 and 2 cities, between 21 - 45 years of age, with disposable income. Working and home makers alike. India, is the largest consumer of gold, whose maximum population are in the targeted age group and growing.
Problem or Opportunity
$2 Billion market and growing fast, the market is at a very nascent stage and a lot of untapped potential is up for the picking. Jewellery related services like exchanges, buying old jewels, repairs, customization, pawning, etc. have not been addressed thus far.
Solution (product or service)
We have the infrastructure and knowledge to address all of the services.
Competitors
Caratlane.com, Bluestone.com
Advantages or differentiators
we give the customers the complete family jeweller experience where in the customer can customize their jewellery, repair their jewellery, exchange, remake old sentimental jewellery, sell old jewellery, etc.
Finance
The average profit is 20 - 22%. With a conservative growth of 40% QoQ, we are forecasted reach a turn over of $102,000 in year 1, $390,000 in Year 2 and $1,500,000 in Year 3. With the given growth we would breakeven in the 3rd quarter of year 3.
Every risk in this business model has been over come. The touch and feel factor of jewellery purchase can not be completely over come but the market is growing the customers' acceptance of the same is also growing.
Won the competition and other awards
Winner of 'funding carnival' held by TiE Coimbatore, awarded letter of intent by 'The Chennai Angels'.
