How Palmonas redefined affordable luxury for a new generation
- 13 hours ago
- 5 min read
The Inception
Palmonas was founded in March 2022 in Pune by marketing entrepreneur Pallavi Mohadikar and Dr. Amol Patwari (an orthopaedic surgeon). They spotted a gap between cheap fashion jewellery and high-end gold: “a category of durable, everyday wear that looked premium but didn’t irritate or tarnish”. In fact, Dr. Patwari noted that surgical tools (made of steel) lasted for decades, inspiring the idea to use surgical-grade stainless steel and sterling silver as jewellery bases. Officially incorporated as Demifine Fashion Pvt Ltd, Palmonas set out to redefine “affordable luxury for fashion-conscious women”. Initially selling online, the brand focused on educating buyers that “demi-fine” (9KT gold-plated steel/silver) wasn’t cheap trinkets but a new category of premium everyday jewellery.
A defining moment in the brand's early journey came with actress Shraddha Kapoor. Long before becoming a business partner, she was a genuine customer who appreciated the brand's philosophy and products. Her organic association with Palmonas eventually evolved into a strategic partnership, and in 2024 she joined the company as a co-founder, acquiring a 21% stake. Unlike many celebrity endorsements that are purely promotional, Shraddha's involvement stemmed from her belief in the brand's vision, adding credibility, wider visibility, and stronger consumer trust.
Branding and Philosophy
From day one, Palmonas’s branding stresses empowerment, style and accessibility. The tagline “We believe Demifine is the future” and mission “luxury made affordable for modern youth” make the positioning clear.
Visually, Palmonas adopts a clean, feminine aesthetic. Its logo is simple black text (no elaborate icon), and its color palette leans to soft pastels and neutrals. Product shots and social content feature warm pink-beige backgrounds and gold accents. Typography is modern and uncluttered, aligning with the minimalist, youth-oriented vibe. This visual identity extends into packaging. Overall, the brand philosophy is about “everyday luxury”, jewellery that looks sophisticated but feels effortless and relatable, not reserved for special occasions.
Packaging and Product Design
Palmonas places great importance on packaging as part of the experience. Each piece arrives in a branded box, typically a white with black logo or soft pastel-pink box with the gold-foil Palmonas logo on the lid. It is high-quality, reflecting the brand’s signature style.
For gifts, Palmonas uses more opulent packaging , deeper hues and sleeker designs, to “radiate an air of sophistication”. Seasonal or limited-edition wrappers (e.g. Valentine’s boxes with heart motifs) add fun, thematic flair. In short, Palmonas treats packaging as an extension of its aesthetic – “each box is a carefully curated piece of art” meant to make unboxing a moment of joy.
They have categories that include delicate chains, stacking rings, lightweight hoops, dainty pendants (e.g. evil-eye charms or hearts), plus a signature modern mangalsutra collection with black beads and gold-plated motifs.
The designs are clean, geometric or nature-inspired shapes. Importantly, durability is a selling point, the metal is “waterproof, tarnish-proof and hypoallergenic,” so it can be worn daily. Palmonas jewellery looks fine and can withstand daily use. Prices are mid-tier, typically in the ₹1,000–5,000 range per piece, far below 22K gold alternatives, making them “affordable luxury” in the demi-fine category.
Go-to-Market Strategy
Palmonas’s launch and growth strategy blended storytelling and scale-building. Initially it went direct-to-consumer, selling via its own website, app and social channels. Early marketing was educational, campaigns explained “what 9KT gold plated jewellery is and why it’s worth trusting,” highlighting its anti-tarnish and skin-safe benefits. Ads were clear and factual to “legitimise the category” before pushing hard on scale.
The brand’s big break came via media and investment. In early 2025, Palmonas appeared on Shark Tank India Season 4, pitching its demi-fine vision. Founders Amol and Pallavi secured ₹1.26 Crore (for 1% equity) from investors Namita Thapar and Ritesh Agarwal. This publicity thrust the brand into the limelight.
With fresh capital, Palmonas accelerated. It announced plans to open branded stores in major cities and target international markets. Indeed, the funds were earmarked for tech (personalized AI shopping) and offline retail. Notably, Palmonas’s marketing leaned heavily on digital content and influencers rather than expensive TV ads. They partner with a mix of content creators like fashion bloggers, regional and even couple accounts, to show the jewellery in real-life contexts. Paid social media ads drive direct sales, while brand storytelling builds trust.
Another creative tactic was humor in advertising. Instead of purely aspirational glam, Palmonas ads often break the fourth wall. For example, one popular ad features Shraddha Kapoor in a mock boardroom, lightheartedly explaining why her jewellery isn’t fake gold (“Ab main ad bana lu?!”) – making product education feel relatable and fun.
Distribution and Reach
Palmonas has pursued an omnichannel distribution model. Online sales are via its website and mobile app (with loyalty programs), shipping worldwide. (The site proudly notes it now delivers to 200+ countries.) But the big push has been physical retail, after starting with a flagship Pune store, Palmonas rapidly scaled up. Within months, it went from 3 stores to 25 stores across India. By late 2025 it had 60 stores and each was reportedly profitable. Outlets are typically standalone boutiques or mall kiosks in major cities, designed as community spaces, hosting small events and meetups to engage customers and discuss “modern luxury”.
Palmonas has not heavily relied on third-party retail partnerships (unlike fine jewellery brands), instead focusing on its own channels. It also announced global expansion plans, using funding to explore markets like the US, Middle East and Southeast Asia. To date, however, its core market remains India’s urban youth (metro and tier-1 cities).
Marketing Growth and Results
Palmonas' growth has been driven by a combination of category creation, digital marketing and strategic expansion. Within three years of its launch, the brand evolved from a D2C startup into one of India's fastest-growing demi-fine jewellery companies.
Growth at a Glance
Revenue Growth
FY23: ~₹1 crore
FY24: ~₹16 crore
FY25: ₹39 crore
Profitability
Reported a net profit of approximately ₹4.3 crore in FY25, showcasing sustainable growth alongside rising sales.
Funding
Raised ₹1.26 crore on Shark Tank India from Namita Thapar and Ritesh Agarwal.
Secured a ₹55 crore Series A funding round led by Vertex Ventures Southeast Asia & India in 2025 to accelerate retail expansion and technology investments.
Retail Expansion
Expanded from a single flagship store to 75+ stores across India within a few years.
Announced plans to further strengthen its offline presence with 100 additional stores.
Digital Presence
Built a community of 900K+ Instagram followers.
Ships to customers in 200+ countries, reflecting its growing international reach.
Conclusion
Palmonas has quickly emerged as India’s flag-bearer of premium jewellery by smartly combining product, branding and marketing. The founders’ strategy, targeting youth with stylish yet affordable gold-plated pieces, filled a market niche. By telling a clear story, they educated customers and built credibility. Shraddha Kapoor’s organic advocacy gave them instant star power, but the brand balanced that with grassroots marketing to reinforce trust.
For marketing professionals, Palmonas’s case highlights the power of category creation. They didn’t just sell jewellery; they invented and explained a category and then became synonymous with it. Palmonas’s mix of retail and e‑commerce should keep it growing. It exemplifies how a new brand can disrupt entrenched markets, by marrying product innovation with savvy marketing and a mission-driven identity.
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