Hyderabad-based jewelry brand Goyaz secured ₹130 crore (about $14.6M) in Series A funding led by Norwest. This is a big funding round for a premium jewelry brand this year.
Founded in January 2023 by Priyanka Vemuluri, Goyaz quickly became a brand to watch in the fashion and lifestyle space, doing well with its gold-plated silver jewelry. In less than two years, it grew to 18 stores across states, making it one of the fastest-growing brands in India. The money will go toward opening more stores in big and growing cities, increasing production, and improving its store and online strategy, with the goal of becoming India’s top silver jewelry brand.
Goyaz succeeds by mixing Indian craftsmanship, certified quality, and current styles, especially for weddings. Consumers want authentic, traditional, and valuable luxury items. Goyaz offers a 55% buy-back program, lifetime stone services, and trustworthy product marks.
Norwest’s investment shows interest in India’s luxury retail market. Norwest, a global fund with over $12.5B, is looking for consumer brands that have a solid business and specialize in store and online strategies. It also shows global capital entering regional brands.
As the direct-to-consumer market grows in India, Goyaz could be establishing a standard for 2025, where heritage brands update their identity, grow their distribution, and offer premium products across India.
This could lead to IPOs, acquisitions in the luxury and jewelry markets, and smart brand building as people switch from mass-market jewelry to lasting metal pieces. With gold prices rising and a desire for authenticity, Goyaz is tapping into a long-term jewelry opportunity that matches cultural demand.
This funding highlights momentum for the luxury jewelry segment as other new businesses gain attention in wellness, beauty, lifestyle, and ethnic categories. For those tracking who’s investing in direct-to-consumer businesses, this confirms that Indian luxury, combined with trust, design, and execution, can have global potential.
With its solid brand and this investment, Goyaz is preparing for its next phase, strengthening its place in the market and reinforcing India’s potential as a luxury jewelry center.
