Results · Commerce & Consumer Brands

Giva reports FY24 revenue of ₹274 crore

By Startup Enthusiast · 14 November 2024

What they do

Giva is an omnichannel jewellery brand selling silver, gold, and lab-grown diamonds

It reported FY24 operating revenue of ₹274 crore, up 66% from ₹165 crore in FY23

Losses widened to ₹59 crore, and the company spent ₹1.23 for every rupee of revenue

Giva reported FY24 operating revenue of ₹274 crore, up 66% from ₹165 crore in FY23.
Losses in FY24 stood at ₹59 crore, up 30% from ₹45 crore in FY23.
Employee benefits expense rose to ₹50 crore, 2.38x from ₹21 crore in FY23.
Cost of metals and diamonds was ₹115 crore, 34% of total costs, up 53.3%.
Branding and marketing spend in FY24 was ₹87 crore.
Total operating expenses were ₹338 crore, up 59.4%.
The company's EBITDA margin was -17.1% and ROCE was -24.4%.
It spent ₹1.23 for every rupee of revenue earned.

Giva has raised over ₹690 crore in total funding to date.
It closed an extended Series B round of $30 million in October 2024, led by Premji Invest.
The company operates about 150 stores in India through a franchise-led model.
Competitors include Melorra, Bluestone, CaratLane, and other funded or family-led brands.

Giva sells silver jewellery, gold jewellery, lab-grown diamonds, demi-fine jewellery, and perfumes.
It uses an omnichannel platform combining digital and physical retail.
The brand started as a budget jewellery brand and now offers gold and lab-grown diamonds.
It has about 150 stores in India, operated through a franchise-led model.

Giva plans to use the Series B funds for product development and marketplace expansion.