What Palmonas does

Palmonas, operating as Demifine Fashion Private Limited, is an India-based direct-to-consumer demi-fine jewellery brand founded in 2022 in Pune by Pallavi Mohadikar and Amol Patwari, with Bollywood actor Shraddha Kapoor joining as co-founder in 2024. The company positions its products in a self-coined 'Demifine®' category between fine jewellery and fashion jewellery, using 18k gold vermeil over surgical-grade stainless steel and 925 sterling silver as the core line, supplemented by a premium 9KT Fine Gold Luxe collection of solid 9KT gold pieces with SGL-certified lab-grown diamonds priced up to ₹25,000. Products are designed for everyday wear with waterproof, anti-tarnish, and hypoallergenic properties, spanning necklaces, earrings, bracelets, rings, mangalsutras, men's jewellery, and lifestyle collaborations including an Emily in Paris collection.

The business operates an omnichannel distribution model anchored by its owned e-commerce platform palmonas.com and mobile app (5L+ downloads), supported by 60+ offline retail stores across Indian metros and tier 2/3 cities, quick commerce partnerships with Blinkit, Zepto, and Swiggy Instamart, and marketplace presence on Myntra and Amazon India. Pricing is tiered from ₹999 entry-level gold-plated pieces to ₹5,000–₹25,000 premium gold and lab-grown diamond items, with frequent BOGO and seasonal promotions. The company reaches an 8L+ cumulative customer base with 6.5L+ orders fulfilled.

Palmonas is venture capital-backed, having raised a ₹1.26 crore Shark Tank investment (Feb 2024), a ₹55 crore Series A led by Vertex Ventures SEAI (Aug 2025), and a $40 million Series B co-led by Xponentia Capital and Vertex Growth Fund (Apr 2026) at a post-money valuation of approximately ₹2,000 crore. The company reported FY25 revenue of ₹39 crore and net profit of ₹4.3 crore, marking a 40x revenue expansion from FY24's ₹97 lakh and a turnaround from a ₹25 lakh loss. The brand is marketed through celebrity endorsement (Shraddha Kapoor), influencer collaborations, Instagram-led social media, Shark Tank India earned media, and Google data-driven attribution.

Name

Palmonas

Legal name

Demifine Fashion Private Limited

Website

https://palmonas.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

51–100 employees

Short description

Palmonas is an India-based D2C demi-fine jewellery brand selling 18k gold-plated and 9KT solid gold pieces with lab-grown diamonds via its website, app, 60+ retail stores, and quick commerce platforms, targeting Gen Z and young Indian women seeking affordable everyday luxury.

Ownership category

akta.pro rank

Product category

Demi-fine Jewellery

NAICS

Jewelry Retailers (458310), Jewelry and Silverware Manufacturing (33991), Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers (42394)

SIC

Jewelry, Silverware & Plated Ware (3910), Retail-Jewelry Stores (5944), Jewelry, Precious Metal (3911)

akta.pro primary industry

Precious Metal Jewelry (Gold/Platinum/Silver) (CRAKAAAD)

akta.pro secondary industries

Luxury Fashion Jewelry & Designer Accessories (Non-fine) (CRAAAFAM), Religious & Cultural Fine Jewelry (CRAKAAAH)

Keywords

• Demi-fine jewellery
• Gold plated jewellery
• Lab-grown diamond jewellery
• Sterling silver jewellery
• Fashion jewellery

Headquarters

HQ city

Pune

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Marketing or Sales, Operations, Supply Chain, Personnel, Technology or R&D, Infrastructure

Revenue model

1. D2C Product Sales: Direct-to-consumer sales of demi-fine jewellery through owned website (palmonas.com), mobile app, and 60+ offline retail stores across India. Products include gold-plated jewellery, sterling silver pieces, and 9kt gold pieces with lab-grown diamonds.
2. Quick Commerce Channel: Sales through rapid commerce platforms including Blinkit, Zepto, and Swiggy Instamart, contributing 25-30% of online sales. This third e-commerce channel offers 2-4 hour deliveries for impulse purchases.
3. Marketplace Sales: Sales through third-party marketplaces including Myntra and Amazon India, targeting broader audience reach and tier 2/3 city customers.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Palmonas manufactures and sells demi-fine jewellery under its proprietary 'Demifine®' category, positioned between fine gold jewellery and fashion/costume jewellery. The product range includes 18k gold vermeil plated pieces on surgical-grade stainless steel and 925 sterling silver, 9kt solid gold collections featuring SGL-certified lab-grown diamonds, sterling silver collections, and modern reinterpretations of traditional Indian pieces such as mangalsutras. Products are designed to be waterproof, anti-tarnish, and hypoallergenic for everyday wear, and are sold through the company's own e-commerce website, mobile app, 60+ offline retail stores across India, quick commerce platforms, and online marketplaces.

Product overview

Palmonas is a direct-to-consumer demi-fine jewellery brand offering everyday luxury jewellery that bridges the gap between fine jewellery and fashion jewellery. The company operates a unified product architecture centered on its core Demifine® Jewellery line (18k gold-plated pieces on premium metals), complemented by the premium 9KT Fine Gold Luxe collection (solid 9KT gold with lab-grown diamonds). The product portfolio includes collaborations like the Emily in Paris Collection, lifestyle collections like AM to PM and Evil Eye, and gender-specific offerings including men's jewellery and mangalsutras. Products span necklaces, earrings, bracelets, rings, anklets, and chains, all designed for daily wear with waterproof, anti-tarnish, and hypoallergenic properties. The brand sells directly through its e-commerce platform and physical retail stores across India, with international shipping available.

Differentiator

Problem solved

Functional benefit

Brands

• 9KT Fine GoldLuxe: A premium sub-collection featuring 9KT solid gold jewellery with lab-grown diamonds, positioned at a higher price point within the demi-fine segment.

Products and services

• Demifine® Jewellery Flagship everyday-wear jewellery line featuring 18k thick gold vermeil plating over premium base metals (surgical-grade stainless steel, 925 sterling silver). Waterproof, anti-tarnish, hypoallergenic, and designed for daily use across showers, workouts, and everyday activities. Targets Indian consumers seeking affordable luxury pieces that bridge fashion jewellery and fine gold jewellery.
• 9KT Fine Gold Luxe Premium solid 9KT gold jewellery collection with SGL-certified lab-grown diamonds, positioned at price points from ₹5,774 to ₹21,707. Includes necklaces, bracelets, rings, earrings, and pendants marked as '9KT Solid Gold', targeting consumers seeking higher gold content with everyday durability.
• Emily in Paris Collection Licensed collaboration collection featuring 18k gold-tone plated pieces inspired by French-girl aesthetic styling. Includes chokers, necklaces, rings, earrings, and bracelets in waterproof and anti-tarnish designs, targeted at Indian consumers seeking fashion-forward, trend-led demi-fine pieces.
• AM to PM Collection Demi-fine gold jewellery collection designed for all-day wear with sweat-proof and splashproof construction. Pieces transition seamlessly from morning to evening occasions and are built for durability, comfort, and style across daily activities.
• Ombre Collection Rose gold-toned jewellery collection featuring rings, earrings, and necklaces with ombre colour effects. Made from 925 sterling silver with rose gold tone plating and cubic zirconia accents, designed for everyday wear.
• Evil Eye Collection Symbolic jewellery collection featuring evil eye motifs on necklaces, rings, bracelets, and earrings. Built with durable materials (sterling silver, stainless steel, gold plating) and offered with lab-grown diamonds, cubic zirconia, or pearl accents for everyday wear.
• Fine Silver Collection Premium sterling silver jewellery collection that includes Silver Luxe, Supernova, and Monday sub-collections. Pieces feature 925 sterling silver with rhodium plating for enhanced durability and shine.
• Mangalsutra Collection Modern reinterpretation of the traditional Indian mangalsutra, including silver mangalsutras and gold mangalsutras with black beads. Designed for daily wear with minimalist, contemporary aesthetics while preserving cultural significance.
• Men's Jewellery Collection Men's jewellery collection featuring gold chains, silver chains, rings, and bracelets. Built with durable materials (stainless steel, sterling silver) and waterproof, anti-tarnish finishes for everyday wear, targeting the growing men's jewellery segment in India.
• Signature Collection Curated signature collection featuring the brand's most popular and distinctive designs, co-designed with actress and co-founder Shraddha Kapoor.
• Shraddha's Favourite Celebrity-curated sub-selection of Palmonas jewellery featuring pieces personally selected by co-founder and actress Shraddha Kapoor.
• Gift Cards Digital and physical gift cards available in multiple denominations, with customization features and customer-friendly return and exchange policies for gifting occasions.

Quantifiable outcome

• Revenue grew 40x from Rs 1 crore to Rs 39 crore in FY25
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

One partnership is on record.

• PwC IndiaminorImplementation/ SI/ Consulting Partner · 1 April 2026Served as exclusive financial advisor to Palmonas on the $40 million Series B fundraise. Provided M&A advisory and valuation services for the transaction.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• CaratLane: Titan-backed omni-channel fine and everyday jewellery retailer in India with a strong D2C online store, physical showrooms and similar price-point everyday gold and diamond jewellery. Directly comparable to Palmonas on positioning between fashion and fine jewellery and target Gen Z / young professional women.
• Melorra: Bengaluru-based D2C demi-fine and lightweight gold jewellery brand selling daily-wear 18k and 22k gold pieces online. Closest comparable to Palmonas's Demifine® and 9KT ranges in materials, price points and digital-first GTM.
• GIVA: Bangalore-headquartered direct-to-consumer silver and fine jewellery brand with offline studio expansion and similar target demographic of young Indian women. Competes head-to-head with Palmonas in the affordable everyday silver and gold-plated segment.
• BlueStone: Online-first Indian jewellery retailer offering gold, diamond and everyday-wear jewellery through D2C and 200+ physical stores. Comparable omni-channel playbook and overlapping price bands in the light-gold / diamond-studded everyday segment.
• Isharya: India-origin fashion and demi-fine jewellery brand known for statement cuffs, earrings and celebrity collaborations. Comparable to Palmonas on fashion-forward design and Bollywood-celebrity-driven positioning.
• Voylla: Indian D2C fashion jewellery brand selling silver, oxidised and imitation jewellery online and through marketplaces. Adjacent competitor in the affordable everyday jewellery space, especially in tier 2/3 city online channels.
• Sukkhi: Indian fashion and imitation jewellery retailer with strong offline and marketplace presence, focused on affordable women's jewellery. Comparable to Palmonas on price points, gifting use-cases and tier 2/3 distribution.

Broad incumbents

• Mia by Tanishq: Titan's youth-focused fashion and everyday gold jewellery sub-brand sold through Tanishq stores and own channels. Competes with Palmonas on entry-level gold and diamond-studded daily-wear but benefits from Titan's incumbent manufacturing scale.
• Tanishq: Largest branded jewellery retailer in India (Titan) selling gold, diamond and platinum jewellery across 400+ stores. The dominant incumbent Palmonas is taking incremental share from with its demi-fine proposition.
• Swarovski: Global crystal and demi-fine jewellery brand sold across India through brand stores and department-store counters. Comparable to Palmonas on accessible-luxury positioning and gifting occasion-led purchase behaviour.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/iampalmonas

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds2 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Palmonas