Palmonas Secures ₹1.26 Crore on Shark Tank India Season 4

Imagine owning luxurious jewellery that looks like real gold, lasts long, and doesn’t cost a fortune—sounds too good to be true? Well, that’s exactly what Palmonas offers! Palmonas jewellery brand is backed by Bollywood star Shraddha Kapoor, made the Shark’s to ask “Why didn’t Shraddha Kapoor come to Shark Tank?“. Now, let me take you through their incredible journey, the deal they made, and why everyone’s talking about this brand!

Palmonas a Demi-Fine Jewellery Brand

Palmonas is a demi-fine jewellery brand that bridges the gap between imitation and fine jewellery. Imitation jewellery is made up of Brass, Nickel, etc which is very cheap and Fine Jewellery is made up of Gold, Platinum, Diamond, etc which could make your pockets empty.

The founders stated that they apply a thick gold layer on premium base metals, making the jewellery look just like real gold. Palmonas journey started in 2022 and they have served more than 1Lakhs Customers. Their jewellery is available on their website, marketplaces, and quick commerce platforms. They also have three stores in Pune.

Palmonas offers bracelets, necklaces, rings, earrings, and even mangalsutras—all made with surgical-grade stainless steel plated with 18k gold vermeil and semi-precious stones. The best part? They’re waterproof, tarnish-proof, and hypoallergenic, making them perfect for everyday wear. The gold percentage is approximately 1% of the jewellery’s total weight. The price range starts from ₹1000 to ₹8500 as the founders told in Shark Tank Pitch.

This jewellery brand is founded with a vision to bridge the gap between fashion and fine jewellery, Palmonas is all about luxury that’s accessible to everyone so that no more compromise on quality or style just because of a high price tag!

USP of Palmonas

• Design & Execution
• Gold Jewellery look
• Affordable and Long Lasting which come’s with Life time buy back value.

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Shraddha Kapoor from a Customer to Co-founder

Shraddha Kapoor became a co-founder of Palmonas from a customer. Pallavi contacted Shraddha after knowing that Shraddha was shopping from Palmonas. Pallavi was 8.5 months pregnant when they met and talked about the business. Now, Bollywood actress Shraddha Kapoor is more than just an endorser—she’s a co-founder with a 21% stake in the company. Her involvement has added immense credibility and visibility to the brand, making it a favorite among young, fashion-conscious buyers.

Investment Details

Palmonas Shark Tank India Pitch: A Bold Move

Now, lets dive into the Palmonas Shark Tank pitch. The founders of Palmonas had a bold ask of ₹1.26 crores for 1% equity, valuing the company at ₹126 crores. Both of the co-founders were confident and well-prepared, the Sharks with impressive sales numbers and a strong brand presence.

Palmonas sales amazed the sharks as you can see on the shark Aman’s reaction. In FY22 – 23 they recorded ₹3.8 Crores, followed by ₹6 Crores in FY23 – 25. As of November FY24 – 25, they had ₹13.5 Crores in sales, with projected sales of ₹30 – ₹35 Crores in FY24 – 25.

Palmonas sales come from 70% from Own Website, 20% from Marketplaces and 10% from Own Stores as per their pitch on Shark Tank India pitch.

The unique appeal of demi-fine jewellery—a perfect blend of affordability and elegance—grabbed the attention of the Sharks. With consumers increasingly looking for durable yet fashionable accessories, Palmonas had a winning business model that stood out in the jewellery industry.

Founder’s Journey

Pallavi Mohadikar and Dr. Amol Patwari are husband and wife. Amol Patwari is from Udgir in Latur district of Maharashtra. He is a Orthopaedics Surgeon cum Entrepreneur, completed his MBBS and worked in Pune as Joint replacement Surgeon. Pallavi is from Pune, Maharastra. She did her schooling and college studies from Pune and Masters from IIM Lucknow.

They started their journey in entrepreneurship from their first brand Karagiri which is a Saree Brand, you might heard of it. They ran Karagiri for 4 years and later in year 2021, Karagiri was acquired by an Accelerator. She got the idea of Karagiri from Lucknow as you might know Lucknow is famous for Chicken kari Sarees and she saw a demand and supply gap as she found out that there were no shops in Nashik. So, Pallavi started selling sarees on ebay. Within a week she started selling 6-8 sarees everyday. From there they never stops.

How Palmonas Started?

After Karagiri’s success and acquisition. Pallavi found out the need of Demi-Fine Jewellery. She got the idea after a friend visiting from the US wore demi-fine jewellery, which she found both interesting and affordable. So, later she searched online Demi-Fine Jewellery in India and she found out that no one was selling in India at that time. Pallavi saw the opportunity and started Palmonas with her husband.

Palmonas Unit Economics

Palmonas Unit Economics divided into : 24% COGS, 11% Commissions, Logistics etc, 40% Marketing, 10% Fixed Expenses, so they’ve the EBITDA of 15%.

Palmonas Shark Tank Deal

After intense negotiations, Palmonas successfully secured their desired deal—₹1.26 crores for 1% equity from Namita Thapar and Ritesh Agarwal.

Future Goals of Palmonas

Palmonas is gearing up for an exciting future, with plans that will take the brand to the next level. Here’s what’s coming next:

• Retail Expansion : Palmonas is planning to open almost 100 more offline stores across key cities, allowing customers to experience their jewellery firsthand in upcoming years. This move will strengthen the brand’s presence and enhance trust among buyers who prefer in-person shopping.
• Going Global : Expanding beyond India, Palmonas aims to enter major international markets like the US, Middle East, and Southeast Asia. By tapping into these regions, the brand seeks to establish itself as a global leader in demi-fine jewellery.
• Bigger Digital Presence : To increase brand visibility, Palmonas is ramping up its digital marketing efforts. Expect collaborations with top influencers, engaging social media campaigns, and interactive content that resonates with jewellery lovers worldwide.

Should You Try Palmonas?

Absolutely! I think if you want jewellery that’s chic, durable, and budget-friendly, Palmonas is the brand to shop from. Palmonas Shark Tank India success is just the beginning—this brand is on its way to redefining affordable luxury.

Whether you love minimalist designs or bold statement pieces, Palmonas has something for everyone. Their collections cater to every occasion—be it work, casual outings, or grand celebrations.

So, ready to upgrade your jewellery collection? Palmonas might just have your next favorite piece!

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