Good Glamm Group co-founder launches lab-grown diamond brand in India
What's the story
Priyanka Gill, a seasoned entrepreneur and ex-venture partner at Kalaari Capital, has launched a new business venture, COLUXE.
The brand, which specializes in lab-grown diamonds (LGDs), aims to revolutionize the jewelry sector by marrying luxury with sustainability and accessibility.
The company has already raised early-stage funding from leading investors, including the founder's friends and family.
Gill is an Indian entrepreneur and angel investor. She also serves as the co-founder of the Good Glamm Group.
Innovative strategy
COLUXE's unique approach to jewelry design
COLUXE aims to make fine jewelry an everyday luxury for aspirational consumers.
The brand will take an omnichannel approach, offering modern designs focused on classic jewelry items like solitaire rings, pendants, earrings, tennis bracelets and necklaces.
Thematic collections based on zodiac signs and gifting occasions will also be available along with signature COLUXE pieces.
Tech-driven
Technology and customization at the heart of COLUXE
COLUXE's USP is its tech-driven customization. The brand intends to launch innovative mechanisms for multi-use settings and personalization via artificial intelligence (AI).
Gill, now COLUXE's CEO, said, "LGDs are as beautiful as mined diamonds, maybe more so, as they are sustainable and ethical."
"They are visually and molecularly identical to their mined counterparts, making them a beautiful, rational choice for aspirational consumers who want more. COLUXE jewelry with LGDs is impactful, cost-effective and good for both the planet and people."
Future growth
COLUXE's digital launch and retail expansion plans
COLUXE will digitally launch in May 2025, followed by a flagship retail expansion in July.
The brand hopes to tap into India's $50 billion fine jewelry market and become the first national LGD jewelry brand with a strong retail and digital presence.
AI-powered virtual try-ons, multi-setting designs, and personalized jewelry experiences will be offered to customers.
Quality assurance
COLUXE's commitment to quality and customer satisfaction
COLUXE will design all its jewelry in-house and work with contract manufacturers for production.
The brand is dedicated to sourcing high-quality lab-grown diamonds and crafting them meticulously.
To build trust, COLUXE plans to focus on certification, consumer education across all touchpoints, offering traceability, and implementing client-friendly return and exchange policies.