Demi-fine jewelry brand PALMONAS made a notable appearance on Shark Tank India Season 4, Episode 34.
Co-founded by Pallavi Mohadikar and Dr. Amol Patwari, later joined by Shraddha Kapoor, PALMONAS is India’s first demi-fine jewelry brand, offering high-quality, affordable, and sophisticated jewelry for the modern Indian woman.
The founders sought ₹1.26 Cr. for 1% equity, valuing the company at ₹126 Cr.
When asked about financials, the founders reported impressive revenue growth: ₹3.8 crore in FY22-23, ₹6 crore in FY23-24, and ₹13.5 crore up to November in FY24-25, with projections of ₹30-35 crore for the full year. This growth is attributed to effective performance marketing and celebrity endorsement.
After deliberations, Sharks Namita Thapar and Ritesh Agarwal agreed to invest ₹1.26 crore for a 1% equity stake plus a 0.5% royalty until ₹1.26 crore is recouped, maintaining the company’s valuation at ₹126 crore.
Also Read:
Madmix Secures ₹50 Lakhs Deal on Shark Tank India Season 4
Established in 2022 and headquartered in Pune, PALMONAS is India’s first demi-fine jewelry brand, offering high-quality, affordable, and sophisticated jewelry for the modern Indian woman.
The brand’s pieces are crafted from premium materials, including 925 sterling silver with 18k gold vermeil plating, featuring a 2.5-micron thick layer for enhanced durability and a luxurious finish.
This gold vermeil is five times thicker than standard gold plating, ensuring superior longevity.
The brand also provides a lifetime warranty on the plating of all its demi-fine jewelry pieces, underscoring its commitment to quality and customer satisfaction.
