Giva sees double digit growth in both revenue and losses in FY24

Jewellery brand Giva saw its operating revenue increase by 65.8% year on year in the 2024 financial year to total Rs 273.6 crore as its net losses also rose by 29.6% to reach Rs 58.6 crore.

Giva’s expenses for the 2024 financial year totalled Rs 338 crore, according to data sourced by ET Tech from business intelligence platform Tofler. The business saw its metal procurement costs increase by more than 53% during the 2024 fiscal year to reach Rs 115 crore and this made up 34% of its total expenses.
 
In the 2024 financial year, Giva saw its employee benefit expenses increase more than twofold to reach Rs 49.6 crore. This sharp increase in the category contributed to its rise in losses during the year, ET Bureau reported.
 
Retailing both online and offline, Giva plans to launch more than 100 stores each year in the coming years with an initial focus on large cities such as Kolkata, Mumbai, Hyderabad, and Ahmedabad among others. The business concluded its Series B funding round last month and raised Rs 255 crore.
 
Giva was established in 2019 in Bengaluru and is known for its silver jewellery. The omni-channel business has since expanded its product selection to include gold and lab grown jewellery and aims to offer a range of jewellery designs at affordable prices.