What Happened to Jewelbox After Shark Tank India?
What is Jewelbox?
Jewelbox is a lab-grown diamond brand based in India. It’s a luxury brand that makes fine jewelry for everyone and for every occasion.
Lab-grown diamonds are no different than mining diamonds. They are optically, physically, and chemically identical to natural diamonds. All the products are certified. All the products are hallmarked also. Their USP is design and craftsmanship.
Lab-grown diamonds are 80% less expensive than natural diamonds. This diamond is also environment friendly.
These diamonds are certified by International Gemological Institute and Gemological Institute of America.
Customers have the options of 80% buyback and 100% exchange in case they change their mind after buying jewelry.
Who is the Founder of Jewelbox?
Nipun Kochar & Vidita Kochar are the founders of Jewelbox. They are siblings. Nipun is the CEO and Vidita is the CMO.
Vidita Kochar is 30 years old. She’s from Surat. She’s a Chartered Accountant. Nipun Kochar is 34 years old and he’s also a Chartered Accountant.
Nipun Kochar looks after finance, operation, strategy, and procurement. Vidita Kochar looks after the design, marketing, digital business, and procurement of the company.
Jewelbox Before Shark Tank India?
Vidita’s husband proposed to her with a lab-grown diamond in 2021. That’s when she came to know about this sector.
Jewelbox has 3 stores in total.
How much money did they ask for on the pitch?
They came to Shark Tank India seeking ₹1 Crore for 2% equity in the company Jewelbox. Which gives the company a valuation of ₹50 Crores.
How much money did they raise for Jewelbox?
They got an investment offer of ₹4.5 Crores at a ₹45 Crores pre-money valuation.
How lab-grown diamonds are made?
- First, they take a piece of real diamond as raw material. It’s used as a seed.
- Then they replicate the piece under lab conditions.
- They put that seed under a reactor that has a 2300-degree Fahrenheit temperature.
- To maintain the pressure, they put carbon and methane gas.
- Gradually the stone is formed.
- It takes 21 ~ 24 days to make 1 carat.
How to differentiate diamonds
There’s a thing called Diamond pen tester. It checks the thermal conductivity of a stone.
When it’s placed on a diamond it will show a temperature reading of that stone. If the pen tester doesn’t give any result, then it’s Cubic Zirconia.
In both lab-grown diamonds and natural diamonds, the pen tester will show the same result.
How to get Jewelbox Diamonds?
You can order any diamond from their main website. Also, you can physically touch and feel the diamonds in their experience centers.
Price of Lab Grown diamonds
| Type of diamonds | Price per Carat |
| Lab Grown diamonds | ₹55000 |
| Natural diamonds | ₹3.5 ~ ₹4 Lakhs |
Investment in a store
| Inventory | ₹1.25 Crores |
| Interiors | ₹25 Lakhs |
What are the Annual Sales of Jewelbox?
| Fiscal Year | Annual Sales |
| 2022 – 2023 | ₹3.8 Crores |
| 2023 – 2024 | ₹12 Crores Projected |
Which shark gave Jewelbox an offer?
Aman Gupta offered them ₹1 Crore for 5% and 2% royalty until ₹1 Crore is recouped.
Radhika Gupta joined Aman Guptas offer.
Vineeta Singh offered them ₹1 Crore for 2%.
Ritesh Agarwal & Vineeta Singh offered them ₹1 Crore for 2.5%.
Peyush Bansal, Ritesh Agarwal & Vineeta Singh offered them ₹1 Crore for 2.5%.
| Offer 1 | Offer 2 |
| Aman Gupta & Radhika Gupta – ₹1 Crore for 5% & 2% royalty until ₹1 Crore is recouped | Peyush Bansal, Ritesh Agarwal & Vineeta Singh – ₹1 Crore for 2.5% |
And just like that, all five sharks gave offers. Which rarely happens in Shark Tank India.
What deal did Jewelbox get in Shark Tank India?
Jewelbox got a five-shark deal from Aman Gupta, Radhika Gupta, Vineeta Singh, Peyush Bansal & Ritesh Agarwal. The deal was ₹2 Crores for 6%. It’s the first all sharks deal in Shark Tank India season 3.
| Company Name | Jewelbox |
| Founders | Nipun Kochar & Vidita Kochar |
| Asked Amount | ₹1 Crore for 2% |
| Final Deal | ₹2 Crores for 6% |
| Sharks | Aman Gupta, Radhika Gupta, Vineeta Singh, Peyush Bansal & Ritesh Agarwal |
| Company Net Worth | ₹33.33 Crores |
| Company Website | jewelbox.co.in |
| Company Status | In Business |
What is the net worth of Jewelbox?
The net worth of Jewelbox is ₹33.33 Crores after all sharks deal.
Is Jewelbox still in Business?
Yes, Jewelbox is still in the lab-grown diamond business.
