Jewelry isn’t just an accessory, it’s a statement, a mood, and sometimes, the missing piece that completes your look. But let’s be real, affordable luxury? That’s the dream, and Palmonas is making it a reality.
Founded by Pallavi Mohadikar and Dr. Amol Patwari, with Bollywood icon Shraddha Kapoor joining later as co-founder, Palmonas is changing the way India shops for demi-fine jewelry. And with a ₹126 crore valuation and a Shark Tank deal to prove it, this brand is not playing small anymore.
What Even is Demi-Fine Jewelry? And Why Should You Care?
If fine jewelry is for weddings and fashion jewelry is for your weekend brunch, demi-fine jewelry is that perfect middle ground, premium quality, affordable price, and trendy enough to wear every day.
Palmonas figured that fashion-conscious women wanted long-lasting yet budget-friendly jewelry, and boom, India’s first demi-fine brand was born.
- 18K gold plating on stainless steel & sterling silver = durability meets elegance.
- Designed to stack = mix, match, & layer your style effortlessly.
- Luxury without the guilt = No more “should I really spend this much?” moments.
And judging by their ₹35 crore projected revenue, India was very ready for this concept.
How Palmonas Got Its Name?
It’s not just a fancy word, it’s a family name.
Palmonas combines Pallavi, Amol, and their daughter Anaya (yes, wholesome content alert 🚨). Shraddha Kapoor joined the journey in late 2023, adding star power to the brand.
Who Are the Minds Behind Palmonas?
Palmonas is backed by some seriously impressive founders,
- Pallavi Mohadikar – COEP Technological University & IIM Lucknow alum, ex-Goldman Sachs, and now a disruptor in fashion e-commerce.
- Dr. Amol Patwari – A joint replacement surgeon turned jewelry brand founder (talk about a career twist!).
- Shraddha Kapoor – Bollywood superstar turned businesswoman, fueling the brand’s visibility.
Together, this power trio is making luxe jewelry accessible, not just for special occasions, but for everyday style.
Their mission? Luxury made affordable for the modern youth.
Shark Tank India: The Ultimate Plot Twist 🦈
Palmonas entered Shark Tank India Season 4 ready to secure funding for offline expansion and international growth in the U.S., Middle East, and Southeast Asia.
They had already raised ₹6 crore in an angel round and maintained a ₹126 crore valuation, big numbers, big ambitions.
But here’s where things got spicy.
- Investor Aman Gupta thought the valuation was too high, offering ₹20 crore instead.
- Namita Thapar agreed to the valuation but wanted 1% royalties, a move that made the founders hesitate.
- Kunal Bahl and Vineeta Singh poked holes in Palmonas’ lifetime warranty claim, questioning whether it had actual value for customers.
🚨 The drama unfolded: 🚨
- Ritesh Agarwal joined Namita in an offer.
- The founders rejected the royalty clause twice (bold move, right?).
- Namita didn’t back down, and eventually, her persistence won.
- Final deal: ₹1.26 crore investment for 1% equity, officially valuing Palmonas at ₹126 crore.
And in one of the most iconic Shark Tank moments, Aman Gupta turned to Namita and said,
“You’re the real shark.” 🦈
Why Palmonas Stood Out?
Palmonas isn’t just another jewelry brand, it’s a disruptor, a rule-breaker, and now, a Shark Tank success story.
- Bridged the gap between fine and fashion jewelry.
- Brought star power with Shraddha Kapoor on board.
- Built a loyal customer base with 4 lakh+ happy shoppers.
- On track to generate ₹35 crore revenue this year.
- Focused on international expansion, offline stores, & AI-driven personalization.
- The Sharks weren’t just investing in jewelry, they were investing in the future of affordable luxury.
What’s Next for Palmonas?
With fresh funding and strategic mentorship, the brand is gearing up for big things:
- ₹35 crore revenue goal in FY25 (and beyond).
- Expanding into more offline stores & international markets.
- AI-driven personalization for better shopping experiences.
- Collabs & innovative designs to stay ahead of jewelry trends.
This isn’t just about making jewelry, it’s about changing how people buy, wear, and experience fashion.
Final Thoughts: Is Palmonas the Future of Jewelry? 💡
If you love luxury but hate luxury pricing, Palmonas is your new BFF.
It’s stylish, durable, and backed by a serious business strategy. With a massive valuation, a Shark Tank win, and Shraddha Kapoor’s name attached, the brand is on track to dominate the demi-fine jewelry market.
So, next time you’re scrolling for necklaces, rings, or earrings that don’t break the bank, you know exactly where to shop. 😉💎
Shop Now: Palmonas
