Pallavi Mohadikar is the founder of Karagiri, a sari brand she started in 2017 and successfully sold to Mena Brands in 2021. After the sale, Pallavi sought to create a new brand in an underserved space.
A self-proclaimed jewellery enthusiast, Pallavi faced challenges with imitation jewellery due to her sensitive skin, which led her to explore the idea of crafting hypoallergenic, durable alternatives.
Her curiosity was further sparked during a conversation with her husband, an orthopaedic surgeon. Over coffee, they discussed the longevity of surgical instruments, which had been in use for a decade despite daily exposure to high-stress environments.
The ‘Aha’ Moment
The “aha” moment for Pallavi Mohadikar came when her husband, an orthopaedic surgeon, explained that surgical instruments are made of surgical stainless steel, a material that doesn’t react with human skin or the body. Inspired by this, Pallavi saw an opportunity to create jewelry out of the same hypoallergenic material.
In India, jewellery is typically divided into fine jewellery, made from precious metals like gold and diamonds, and imitation jewellery, which often uses metals that aren’t skin-friendly.
“There’s a huge void in between, both in terms of price points and the availability of designs. So we thought, why not create something that looks and feels as good as gold, but isn’t as expensive as gold? That’s when we started researching and came across this category called Demi-Fine, which is huge in the US and the UK. In those countries, people don’t wear gold at all—they only wear Demi-Fine.”
This insight led to the creation of Palmonas, a brand designed to fill that void.
The Differentiating Factor
The differentiating factor for Palmonas lies in the unique technology behind its jewellery plating. Unlike many competitors in the gold-plated jewellery space, Palmonas uses a 2.5-micron thick layer of gold, plated over the surgical stainless steel or sterling silver. This results in jewelry that not only looks and feels like gold but also retains its gold appearance over time, without the typical fading or tarnishing associated with gold-plated items.
Designed for daily wear, Palmonas jewellery can be worn without restrictions, including exposure to water.
Additionally, the brand offers a lifetime warranty, reinforcing customer trust and confidence in the long-lasting quality of the pieces. This combination of durability, affordability, and high-quality materials sets Palmonas apart in the market. Pallavi shares,
“The Gen Z and millennial crowds we are targeting right now are completely in awe of it. We get so much positive consumer feedback. Even celebrities wear it every day—Deepika Padukone, Ananya Panday, Sanjana Sanghi—you name it, they wear Palmonas. We’ve received such amazing feedback from them.”
Plans Ahead
Palmonas has experienced rapid growth in its first 15 months, far exceeding expectations. Looking ahead, the brand plans to expand both online and offline.
On the offline front, they are launching a franchise model and aim to open five new stores by next April, starting with their current location in Pune’s Koregaon Park. Online, they have begun offering global deliveries, capitalizing on the growing global demand for demi-fine jewelry.
In terms of business scale, Palmonas is currently achieving a monthly run rate of one crore, with expectations to see a 25% month-on-month growth during the festive season. The brand is also in talks with investors and plans to close its pre-series funding round within the next 60 to 90 days to fuel further expansion.
