Jewellery brand GIVA raises $100M from Multiples PE

Multiples Alternate Asset Management along with its co-investors, has led the $100 million funding round in jewellery brand GIVA. 

Founded in 2019, Bengaluru-based GIVA focuses on everyday wear, catering primarily to Indian consumers for both self-consumption and gifting occasions. The fresh capital will be used to strengthen its leadership team, expand manufacturing and deepen its offline presence.

The brand offers a diverse portfolio spanning 92.5 silver, gold and lab-grown diamond jewellery. It follows an omnichannel distribution model through its own retail stores, D2C website and leading third-party e-commerce and quick-commerce marketplaces. 

Currently, the brand retails through 400+ stores across India and Sri Lanka. The latest fundraise is the largest investment in India's new-age jewellery market, according to the company.

Ishendra Agarwal, founder & CEO, GIVA said, "Multiples’ backing is a strong endorsement of what we have built at GIVA since 2019, a high-growth, design-led fine jewellery brand that Indian consumers trust for everyday wear and gifting.”

“As we enter our next phase, we are focused on scaling our omnichannel presence, strengthening our manufacturing capabilities and elevating the fine jewellery experience for modern Indian consumers. With Multiples’ experience in helping new-age businesses scale, we have the right partner for this journey. This $100 Mn+ round, the largest investment in India’s new-age jewellery market, gives us the strength to move faster.”

The company also added that India's jewellery market is estimated to grow at around 6% CAGR to reach $124 billion by 2032. 

Multiples has also invested in brands such as Licious, ACKO, PVR and Arvind Fashions apart from in other sectors. Earlier this year, Multiples announced the close of a USD $430 million fund.