SiriusJewels: Transforming India's Diamond Jewellery Market with Affordable Luxury and Omnichannel Innovation
Discover how SiriusJewels is transforming India's jewellery industry with natural diamond jewellery, an innovative customer rewards program, and an omnichannel retail strategy. Explore its founders, business model, revenue, growth journey, funding, achievements, and future expansion plans.
The Indian jewellery industry is evolving rapidly, driven by changing consumer preferences, digital commerce, and a growing demand for affordable luxury. Amid this transformation, SiriusJewels has emerged as a fast-growing jewellery brand that combines premium natural diamond jewellery with an innovative customer rewards program and an omnichannel retail strategy. The company is making luxury more accessible through its franchise network, shop-in-shop partnerships, and e-commerce platform while focusing on transparency, quality, and customer value.
In this article, we'll explore SiriusJewels' company profile, including its founders, startup story, business and revenue model, products and services, funding, growth journey, future plans, and more.
SiriusJewels - Company Highlights
| COMPANY NAME | SiriusJewels (SiriusJewels and Lifestyles Pvt. Ltd.) |
|---|---|
| Headquarters | Surat, Gujarat, India |
| Sector | Jewellery, E-commerce, Luxury Retail, Diamond Jewellery |
| Founders | Jyoti Sharma and Komal Savani |
| Founded | 2017 (Diamond business); entered retail in 2021 as SiriusJewels |
| Website | siriusjewels.com |
SiriusJewels - About
SiriusJewels - Industry
SiriusJewels - Founders & Team
SiriusJewels - Startup Story
SiriusJewels - Vision and Mission
SiriusJewels - Products/Services
SiriusJewels - Business Model and Revenue Model
SiriusJewels - Launching Company Strategies
SiriusJewels - Customer Growth and Retention Strategies
SiriusJewels - Challenges Faced
SiriusJewels - Marketing Strategy
SiriusJewels - Current Performance
SiriusJewels - Funding
SiriusJewels - Recognition and Achievements
SiriusJewels - Competitors
SiriusJewels - Future Plans
SiriusJewels - About
Siriusjewels is a Certified Natural Diamonds & BIS HUID Hallmarked Gold Jewellery Brand Focused on making Luxury affordable, Modern Craftmanship and Business Growth. The brand operates through Retail Franchise Stores, Shop-in-Shop Network with Jewellers and E-commerce Website & App to expand rapidly across markets. The company's roots go back to 2017, when the founders began in the diamond business, before entering the retail sector under the brand name SiriusJewels in 2021.
SiriusJewels - Industry
Indian luxury market is expected to grow by 28% in 2030.
- The Market Size of India’s jewellery industry currently stands at 90+ billion USD.
- Diamond Jewellery stands at about 18 Billion USD and is expected to increase to 25 billion USD by 2030.
- The global Top 3 ranking in jewellery consumptions are China, United States, and India
SiriusJewels - Founders & Team
SiriusJewels' management team is an ideal example of women's empowerment as the company's management is led by two women directors, Jyoti Sharma and Komal Savani. Both Jyoti & Komal are true business-minded women.
SiriusJewels - Startup Story
A successful business is built on a clear vision and dynamic strategies. At SiriusJewels & Lifestyle Pvt. Ltd., their leadership firmly believes that sustainable growth begins with a well-defined purpose and the ability to adapt to changing market trends.
As a women-led brand, they bring a deep understanding of the lifestyle and jewellery industry. Their core vision is to create a business model that delivers unique and meaningful rewards directly to its customers, making every purchase more valuable than just owning a piece of jewellery.
Their focus is on lightweight, contemporary, and fast-moving natural diamond jewellery that reflects the preferences of today's consumers. Being headquartered in Surat, the jewellery manufacturing capital of India, gives them a significant competitive advantage. With direct access to world-class manufacturing, skilled craftsmanship, and an efficient sourcing network, they are able to deliver exceptional quality, innovative designs, and outstanding value to their customers.
SiriusJewels - Vision and Mission
“Be Known by Uniqueness & Transparency.”
"Money is just a by-product of Value."
There are two kinds of entrepreneurs and businesses, those driven primarily by profit and those driven by value. At SiriusJewels & Lifestyle Pvt. Ltd., they have always chosen to put value first.
This doesn't mean profit isn't important. Every business needs financial strength to grow and sustain itself. However, they firmly believe that when a company consistently creates value for its customers, partners, and stakeholders, success and profitability naturally follow.
For them, value creation is the foundation, and money is simply its by-product.
Mission: Customer Centric Growth oriented Business Model. They are aiming to establish 200 franchise stores and Shop-in-Shop networks by 2030.
SiriusJewels - Products/Services
SiriusJewels offers an exclusive collection of natural diamond jewellery, crafted with 100% natural diamonds and BIS Hallmarked Gold. Our collection includes elegant diamond rings, earrings, pendants, bracelets, necklaces, and many other contemporary designs that cater to the evolving lifestyle of today's customers.
What truly sets SiriusJewels apart is our unique Customer Reward Programme. With every purchase, customers earn cashback that is credited directly to their bank accounts—without having to return or exchange the jewellery they purchased. This allows them to enjoy both the beauty of their jewellery and the rewards of their purchase.
The programme was first launched through our website and mobile application and was later extended across all SiriusJewels partner stores and collaborations. Since its launch in 2021, we have successfully delivered 10,000+ cashback rewards to our valued customers.
This innovative cashback initiative is one of the most unique customer reward programmes in the Indian jewellery industry, reinforcing our commitment to delivering exceptional value beyond every purchase.
Sakshi Jadhav
SiriusJewels - Business Model and Revenue Model
SiriusJewels works on Franchise and Shop-in-shop business model. Their revenue model includes Direct Selling on website and App, franchise business and supply to Shop-in-shop jewellers.
SiriusJewels - Launching Company Strategies
The company began its journey by launching SiriusJewels' website and mobile application, recognizing the growing potential of digital commerce. However, they also understood that Indian consumers are often cautious when purchasing jewellery online.
To build trust and confidence, they initially focused on lightweight, gift-oriented natural diamond jewellery. Every order was backed by free insured delivery and a 100% refund policy, ensuring a completely risk-free shopping experience if the customer was not satisfied with the product.
This customer-first approach helped us earn the trust of their first 100 customers within just two months, with an average order value of ₹18,000. It laid a strong foundation for the brand and reinforced their belief that transparency, trust, and customer satisfaction are the key drivers of long-term success.
SiriusJewels - Customer Growth and Retention Strategies
The company also understands that fine jewellery requires regular care to preserve its beauty. To strengthen customer relationships, they introduced Jewellery Cleaning Campaign, inviting customers to visit the stores for complimentary jewellery cleaning and maintenance. These visits not only enhanced the longevity of their jewellery but also create opportunities for customers to explore the latest collections and continue their journey with the SiriusJewels brand.
Today, SiriusJewels proudly operates 7 franchise stores and 15 Shop-in-Shop locations, expanding commitment to exceptional service across multiple cities. They have thoughtfully designed a premium customer experience that goes beyond the jewellery itself. Every SiriusJewels package includes beautifully crafted jewellery along with access to the unique Customer Reward Programme (Cashback Offer), an easy Return & Exchange Policy, and a Manufacturing Guarantee. Together, these benefits provide customers with complete peace of mind and encourage long-term trust and repeat purchases.
SiriusJewels - Challenges Faced
Since every jewellery design can have multiple variants based on gold colour, gold purity (karat), diamond colour, and diamond clarity, the company's platform intelligently manages these combinations with accuracy and efficiency.
As a result, every SiriusJewels retail location can access and sell products from its shared inventory, creating a truly connected retail ecosystem, improving inventory utilization, reducing stock duplication, and delivering a wider product selection to every customer.
To overcome it, they have developed their own in-house omni-channel management platform. The system seamlessly integrates inventory management, order processing, customer management, and payment tracking, while enabling every franchise store and Shop-in-Shop location to sell inventory available across our entire partner network.
One of the biggest challenges in the jewellery industry is building an efficient ecosystem supported by a robust omni-channel inventory management system. Managing inventory across multiple sales channels while ensuring every product is available at every point of sale is a complex task faced by almost every jewellery brand, and SiriusJewels embraced this challenge head-on.
SiriusJewels - Marketing Strategy
Company's “Sirius MMB offer” and “Sirius FMB Offer” campaigns are most successful. These campaigns gave direct reward to the customers. The strategy can be any but it should be vision centric and aligned with your long term goal. SiriusJewels have built their brand with one motive to gain customer’s trust.
Shevaughn Pimenta
SiriusJewels - Current Performance
Today, SiriusJewels has established a strong and growing retail presence with 7 operational franchise stores, while 4 additional franchise locations are scheduled to open within the next three months. Alongside this, the brand operates 15 Shop-in-Shop locations, with 3 more collaborations planned in the near future.
The brand has achieved an aggregated annual turnover exceeding ₹20 crore, supported by an impressive average year-on-year growth of 3X. Our customer community has grown to over 1 lakh registered app users, while our offline retail network has successfully generated more than 3,000 orders, reflecting the strength of our omnichannel business model and expanding market presence.
SiriusJewels - Funding
SiriusJewels is a bootstrapped company that has grown without raising any external equity funding. Since its inception, the brand has relied on its own revenues to finance operations, expand its franchise network, strengthen its omnichannel presence, and drive business growth.
SiriusJewels - Recognition and Achievements
The company have been awarded as “ Excellence in Diamond Jewellery in Surat” by My FM Building Gujarat 2024.
SiriusJewels - Competitors
The major competitors of SiriusJewels include:
- Kisna
- Mia by Tanishq
- Candere – By Kalyan Jewellers
- Caratlane
- Bluestone
- Melorra
SiriusJewels - Future Plans
SiriusJewels plans to significantly expand its retail footprint by opening 21 new franchise stores and growing its Shop-in-Shop network to 36 locations by 2027. In addition to strengthening its presence in the jewellery market, the company also aims to diversify its offerings by expanding into the broader lifestyle category, supporting its long-term vision of becoming a leading lifestyle brand.
FAQs
What is SiriusJewels?
SiriusJewels traces back to a diamond business started in 2017. The founders entered the retail sector in 2021 under the brand name SiriusJewels, offering BIS Hallmarked Gold jewellery through its e-commerce platform, franchise stores, and shop-in-shop partner network.
Who are the founders of SiriusJewels?
SiriusJewels was founded by Jyoti Sharma and Komal Savani, who lead the company with a vision of making luxury jewellery more affordable, transparent, and customer-centric.
What is the business model of SiriusJewels?
SiriusJewels follows an omnichannel business model that combines direct online sales, franchise stores, and shop-in-shop partnerships. The company also generates revenue through its website, mobile app, and retail partner network.
Is SiriusJewels a funded startup?
No. SiriusJewels is a bootstrapped company and has not raised any external equity funding. The brand has grown through its own revenues while expanding its retail and digital presence across India.
