MUMBAI: Priyanka Gill is hoping that women’s love for shiny rocks will turn into a massive business. The former partner at Kalaari Capital and founder of the Good Glamm group has just launched her new venture CoLuxe with the ambition to become Indi’s best -loved-lab grown diamond (LGD) and gemstone jewelry omnichannel brand.
She has the wherewithal to make it work what with all the experience she has gained in scaling up the Good Glamm group.
Coluxe is expected to go live with its online lab grown diamonds by May 2025 followed a little later by a physical store, is what Gill told the Mint.
According to Gill, there’s a lot of headroom for growth in diamonds as their purchase is a faction of the amount of money spent on buying gold every year. The company will offer contemporary designs focusing on collections built around the classic suite of jewellery, from solitaire rings, pendants, earrings, tennis bracelets & necklaces to thematic collections around the zodiac, gifting and manifestation and the iconic cult Coluxe signature pieces.
She added that Coluxe is going to be a Pan-India Brand: The first national LGD jewellery brand with a strong retail and digital presence. Other points working in its favor include:
Technology-Driven Experience: AI-powered virtual try-ons, multi-setting designs, and personalised jewellery experiences.
Ethical & Sustainable Luxury: High-quality LGDs, responsibly sourced and crafted.
High Trust Brand: Focus on building the brand through certification, consumer education across all touchpoints and offering certification, traceability, and client-friendly returns & exchange policies
Omnichannel Approach: Seamless integration across flagship stores and digital platforms.
What should also work in her favour is the tax relief that finance minister Nirmala Sitharaman has provided to those with salaries below Rs the 12 lakh ceiling.
Some of the zillions of people who are benefiting from this move could get into the mood to buy diamonds.
Could we call this a case of timing it right?
