Palmonas is a demi-fine jewellery brand that was born out of a desire to offer affordable luxury to fashion-conscious women. We aim to make women feel confident, stylish, and empowered without breaking the bank. We strive to create a brand that empowers women to look and feel their best every day. Read more about the brand Palmonas and its CEO and co-founder Pallavi Mohadikar-Patwari
WS: Tell us about the interesting story of an idea to make Demi Fine Jewellery.
PMP: As a jewellery enthusiast, I often experienced skin rashes from imitation jewellery. My husband Dr Amol Patwari, an orthopaedic surgeon, inspired me with his tales of surgical equipment longevity. I was shocked to learn they had been using the same equipment for a decade and wondered why jewellery could not be made from similar materials.
In India, two categories dominate jewellery: fine jewellery (pure gold, diamond, platinum) and imitation jewellery (brass, nickel). Both have drawbacks: fine jewellery is expensive, while imitation jewellery is often skin-irritating. Recognizing the gap between these categories, we explored Demi-fine jewellery, a popular category in the US and UK. Realizing its untapped potential in India, we launched PALMONAS.
WS: What makes you stand out from your competitors?
PMP: In the gold-plated jewellery space, we stand out by utilizing cutting-edge plating technology. Our jewellery is plated with a thick 2.5-micron layer of gold on either surgical stainless steel or sterling silver. This thickness ensures the jewellery looks, feels, and even tastes like gold, allowing for unrestricted wear. Our collection of ‘new age gold’ boasts an array of stunning items, from Mangalsutra, and heart-studded bracelets to delicate solitaire rings, wheat-like woven chains, and striking snake-shaped earrings, among others. Additionally, our jewellery comes with a lifetime warranty, instilling customer trust and confidence.
WS: How do you achieve the perfect balance of affordability, quality, and lasting?
PMP Jewellery is essentially a design game. We have a large in-house design team that creates new designs every week, launching 15 new pieces every Friday on our Instagram Live. This freshness drives repeat purchases, with our current rate at 30 per cent, exceeding industry standards. Moreover, Dr. Amol instils a focus on consumer safety. We use skin-friendly materials and subject our jewellery to rigorous testing. Our designs are minimal and delicate, appealing to our target audience of GenZ and millennials.
WS: What has been your biggest challenge so far?
PMP: Educating consumers about Demi-fine jewellery has been the biggest challenge. We are pioneers of this category in India, and initially, people struggled to grasp the concept of a gold alternative. Influencer marketing has been instrumental in overcoming this challenge. Influencers showcasing and endorsing our products have helped build trust and encourage first-time purchases.
WS: Explain about Demi Fine Jewellery that you get abroad and in India.
PMP: Demi-fine jewellery bridges the gap between fine and imitation jewellery. It offers the look and feel of fine jewellery but at a lower price point than imitation jewellery. Our pieces start at around INR 1500, while imitation jewellery starts at INR 300 or 400. Our jewellery is made from safe materials, preventing skin rashes. It is coated with a thick layer of gold and comes with a lifetime warranty and hallmark certificate, guaranteeing material authenticity. Additionally, our prices are significantly lower than those of pure gold jewellery.
WS: What are your business expansion plans?
PMP: PALMONAS will pursue a combination of online and offline channels. Jewellery is an impulse purchase category, and people often make unplanned jewellery purchases while browsing in malls or airports. Gifting is also a significant aspect of our industry. Therefore, physical stores are essential. However, Demi-fine jewellery is poised for significant growth in India due to rising gold prices. As mass India cannot afford to purchase large quantities of gold jewellery, Demi-fine jewellery offers a classy and affordable alternative.
