100 percentage YoY Growth: ONYA, a Hidden Gem in India’s Fast-Moving Lab-Grown Diamond Jewellery Space

Indiarsquos labgrown diamond jewellery market is seeing a new generation of brands build around changing consumer expectations and ONYA is emerging as ldquoThe Namerdquo to watch The brand reports 10037 yearonyear growth in revenue alongside expansion across stores customers product designs and its teamFounded by Himani Yadav and Gaurav Choudhary ONYA has built its proposition around contemporary fine jewellery powered by labgrown diamonds In around 20 months since its launch the brand has expanded to 8 flagship stores across Bengaluru Pune and Hyderabad building a physical retail presence alongside its online business The pace of this expansion has also allowed the company to build a presence across three major urban jewellery markets rather than relying entirely on an onlinefirst modelThat expansion reflects ONYArsquos focus on making the purchase of Onya Lab grown diamond jewellery more experiential While labgrown diamonds have opened up a new price proposition within the category ONYA has focused on design personalisation and the overall jewellerybuying experience Its stores give customers the opportunity to see pieces up close understand the diamonds and settings compare different designs and make a considered purchase with guidance from the team For a category where customers often want to see the jewellery before making a significant purchase the company sees physical retail as an important part of building trustThe same approach is reflected in the brandrsquos growing product portfolio ONYA has expanded beyond engagement jewellery into everyday and occasionled categories including lab grown diamond rings solitaire rings earrings bracelets pendants necklaces and menrsquos jewellery The brand now has over 4000 unique designs and a ONYA Signature Collection including patented collet amp designs spanning over 100 products aligned with their store interiors and philosophy of timeless Neoclassicism This is the largest number of skursquos in any collection by a BrandThe broader portfolio also allows the company to address different purchase occasions from engagement and milestone jewellery to pieces customers can wear as part of their everyday wardrobeThis increase in product depth has been accompanied by a focus on design variety Instead of building the catalogue around a limited set of formats ONYA has been developing different silhouettes diamond shapes settings and design aesthetics This gives customers more room to choose jewellery based on personal style rather than simply selecting a product based on diamond size or price For the company expanding the design portfolio is also a way to build a stronger identity as a jewellery brand rather than being defined only by its use of labgrown diamondsCustomer growth has been another important part of the story Its customer base has grown from 1466 to 6388 representing more than 30037 growth For a category involving a considered purchase the company tracks customer satisfaction and experience alongside topline growth using metrics such as NPS amp repeat purchases ONYA currently records an NPS of 74 which is in the top quartile despite doing bespoke ordersAs part of its festive season initiatives ONYA is also offering up to 5037 off on diamonds as part of its Annual Flagship Sale ldquoODD 2026rdquo ODDONYA Dhanteras Day allowing customers to explore its labgrown diamond jewellery during the Diwali period The company has also scaled its team alongside the business ONYArsquos team has grown from 18 to 63 with the organisation now having inhouse teams for all core functions like Design CAD marketing social media finance and fulfillment The increase reflects the growing operational requirements of running a jewellery business across physical retail online commerce design technology and customer experience As the number of stores and customers increases the company is also investing in the people and processes required to maintain a consistent experience across different touchpointsRetail expansion has been particularly significant for the brand Reaching 8 stores in around 20 months gives ONYA a growing network through which it can introduce customers to its designs and the labgrown diamond proposition in person The company plans to continue expanding its retail footprint through a combination of companyowned and franchise stores with further expansion planned in markets including Hyderabad Delhi amp Pune At the same time the brand is continuing to invest in its online experience and personalisation capabilities allowing its physical and digital channels to complement each otherDesign continues to be a key part of ONYArsquos differentiation Its proprietary ONYA Setting developed inhouse and patented by the company is designed to optimize light reflection and enhance diamond brilliance while creating an aesthetically beautiful collet The brand has also developed collections around distinct design inspirations The Onya Signature Collection for instance takes inspiration from Neoclassical architecture and translates elements of that aesthetic into contemporary jewelleryThis designled approach is also reflected in the specifications of the jewellery ONYA uses IGIcertified VVS EF labgrown diamonds set in BIShallmarked gold while its customer policies include lifetime exchange and an 8037 buyback guarantee The company is positioning these elements alongside its retail experience and design portfolio as it builds its presence in the increasingly competitive labgrown diamond jewellery categoryONYA recently raised 125 crore in a PreSeries A round led by Divisa Family Office and ZeroPearl VC The companyrsquos recent funding is expected to support its next phase of growth to fuel further retail expansion strengthen online and personalisation capabilities and invest in jewellery design RampD The fresh capital comes as the company moves from its initial phase of establishing the brand and retail presence towards scaling the business across markets and customer segmentsONYArsquos growth comes at a time when the definition of fine jewellery is evolving For the brand the opportunity lies in shaping that evolution through design accessibility and a more contemporary approach to how fine jewellery is created and experienced

100 percentage YoY Growth: ONYA, a Hidden Gem in India’s Fast-Moving Lab-Grown Diamond Jewellery Space

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100 percentage YoY Growth: ONYA, a Hidden Gem in India’s Fast-Moving Lab-Grown Diamond Jewellery Space

Other Articles

Mid-Day Fast