In a bold move that challenges the very foundations of India's traditional jewellery industry, a Pune-based startup founded by three 21-year-olds is making waves with its innovative approach. Heera Jewels, launched in early 2025 by entrepreneurs Apurv Kulkarni, Ayush Katare, and Smit Sapariya, has turned a modest initial investment of ₹6 lakh into an estimated first-year profit of around ₹30 lakh. Their secret? A digital-first model built on lab-grown diamonds, sustainability, and a lean, made-to-order inventory system.
Spotting the Gap: Design, Ethics, and Affordability
According to CEO Apurv Kulkarni, the genesis of Heera Jewels was a clear market disconnect. He observed that younger Indian consumers desired real diamond jewellery that was contemporary in design, ethically sourced, and fairly priced, but found the market dominated by legacy players with heavy retail costs and mined stones. "Modern India wants real diamond jewellery that is design-forward, responsibly sourced, and realistically priced, without the environmental and ethical concerns tied to mining," Kulkarni explained. Seeing an opportunity, the trio—with Kulkarni as CEO, Katare as Chief Marketing Officer, and Sapariya as Chief Financial Officer—decided to build a brand that spoke directly to this new generation of conscious buyers.
The Lean Model: Smart Capital and Sustainable Operations
From day one, Heera Jewels rejected the conventional jewellery retail playbook of large showrooms and stocked inventories. Instead, they adopted a capital-efficient, made-to-order structure. "Choosing a lean model from day one helped us stay capital-smart and environmentally conscious at the same time," said Kulkarni. This approach means jewellery is only crafted after an order is confirmed, sourcing certified lab-grown diamonds from manufacturers in Surat, Gujarat, and utilizing skilled local artisans for production.
This strategy not only minimized upfront investment but also drastically reduced waste. "The lean-inventory model ensures we minimise metal and stone wastage that typically sits locked in store vaults. Precision-led luxury is more sustainable than volume-led stocking," Kulkarni emphasized. The model proved successful quickly, with early monthly sales ranging between ₹3 to ₹4 lakh, driven largely by direct online engagement and social media.
Lab-Grown Diamonds: The Core of Sustainable Luxury
At the heart of Heera Jewels' proposition is its commitment to lab-grown diamonds. Kulkarni is keen to educate the market that these stones are scientifically identical to mined diamonds in every aspect—structure, durability, and brilliance—but come with a significantly lower environmental footprint and fully traceable origins. "Luxury should evolve with responsibility, and lab-grown diamonds allow us to offer 100 per cent real stones with dramatically lower environmental impact," he stated.
While this allows for more accessible pricing, Kulkarni stresses that affordability does not mean a compromise on luxury. "Affordability opens the door, but quality and design make it aspirational," he noted. The brand's primary clientele consists of young professionals and couples aged 20 to 35 who value personalization, ethical clarity, and a seamless digital buying experience over traditional showroom visits.
Building Digital Trust in a High-Value Category
Operating online in a high-trust, high-value category like jewellery presents its own set of challenges. Kulkarni believes the key is radical transparency. "Online buying is not the challenge anymore, but lack of transparency is," he asserted. To build confidence, Heera Jewels provides certification for all diamonds, uses real product videos instead of stock images, offers insured shipping and authenticity guarantees, and facilitates direct consultations with the founders. "Trust is built through proof," Kulkarni added.
Social media has been instrumental in this trust-building exercise, serving as a platform to showcase products, educate audiences about lab-grown diamonds, and foster a community. Looking forward, Kulkarni envisions lab-grown diamonds moving from an alternative choice to a mainstream sustainable luxury option in India within the next decade, with India leading in both consumption and manufacturing.
By integrating social responsibility into its business model, including supporting local artisans and community initiatives, Heera Jewels is not just selling jewellery but championing a new, conscious paradigm for the Indian luxury market.
