Giva is shaking up India’s jewellery market, long dominated by gold, with an unexpected bet on silver. Founded in 2019, the company has already grown into a $2 billion brand by targeting the massive but largely unorganized silver jewellery segment.

Unlike competitors such as Caratlane and Bluestone that built their businesses around gold and diamonds, Giva has leaned on an “affordable luxury” play—high-margin silver products, agile design cycles, and impulse-friendly purchases. 

But challenges loom. Rising silver prices could cut into margins, and its aggressive offline push will test whether silver can truly rival gold in a market steeped in tradition.

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