The company has transformed India’s fashion jewelry market and achieved stellar market growth.
Pune, 15/1/24: Gargi by P N Gadgil & Sons (PNGS) has experienced remarkable growth since its listing on the stock exchange. The company has set new standards for the fashion jewellery industry in India through its high-quality designer pieces, which are both affordable and unique. In a short span of time, it has received an incredible response from customers and investors alike, delivering over 1700% returns in the last 13 months.
The love of Indian consumers for jewellery is almost unparalleled globally. However, when it comes to affordable everyday wear jewellery, there are very few options to choose from. Typically, fashion jewellery manufacturers operate in the unorganized sector, with designs and product quality remaining low and unremarkable.
This is where a significant market gap was noticed for high-quality, affordable designer jewellery suitable for daily wear. Gargi by PNGS was established with a mission to fill this gap, offering an extensive range of designer jewellery made of brass, sterling silver, gold, and even diamonds, with prices starting under INR 1,000 (Gargi’s gold and diamond jewellery offerings are priced in the range of INR 5,000-50,000).
Speaking about the brand’s success and market reception, Aditya Modak, Co-founder of Gargi by PNGS, said, “Right from the outset, our vision was to build a customer-centric brand that could bring about much-needed changes in the fashion jewellery market in India. We have a rich legacy from our parent brand that has been around for almost 200 years, and our products have instantly resonated with the target audience due to the excellent quality and designs, making the wearer proud of their choices. To formalize our commitment to the segment, we listed on the stock exchange in December 2022 at an IPO of 30 rupees, and our share prices have constantly risen since then. On December 20th, 2023, our market cap was INR 406 Cr at a share price of 422. Within 15 days, PNGS GARGI FASHION JEWELLERY LTD traded at INR 534, giving the company an INR 515 Crore Market Cap. This reflects the great trust that Gargi has generated in the market as a long-term sustainable brand, and we remain committed to continuously delivering value to our customers and shareholders alike.”
Named after the ancient Indian female scholar from the Ramayana era, Gargi is also one of the names of Goddess Durga. Drawing from both, Gargi has created masterpieces that create an aura of the wearer being beautiful, honest, stylish, fearless, and scholarly. Based on the iconic P N Gadgil & Sons brand, an entity with over rupees INR 10,000 crore in annual turnover, Gargi has maintained similar operational excellence, customer understanding, and quality. The brand has many interesting line-up and expansion planned for the financial year 2024-25.
