Irasva Fine Jewellery Focuses on Mumbai Expansion, Looks to Build Strategic Growth Partnerships

Founded in 2019 by Leshna Shah, Irasva Fine Jewellery is a homegrown luxury jewelry brand backed by Renaissance Global Limited, that brings together Indian craftsmanship and contemporary design.

‘‘The brand was established with a vision to create fine jewelry that feels relevant to the modern Indian consumer, balancing traditional influences with fresh interpretations of diamonds, gemstones, and design,’’ says Leshna Shah, Founder, Irasva Fine Jewellery

An important milestone in the brand’s journey was the launch of the ‘Nizam Heritage’ collection in 2023, which drew inspiration from India’s regal jewelry traditions and showcased the brand’s focus on intricate craftsmanship and design. The brand has also received industry recognition for its design excellence, winning Best Earring Design at the Indian Jeweller Awards in 2024 and emerging as the runner-up in the bracelet category.

More recently, the launch of ISSHO– a lab-grown diamond jewellery line co-created with Shibani Akhtar, marked another significant step for Irasva, allowing the brand to explore a contemporary design direction and engage with evolving consumer preferences.

‘Today, Irasva continues to build on its commitment to thoughtful design, fine craftsmanship and jewelry that celebrates individuality, creating pieces that can be treasured for both everyday moments and special occasions,’’ says Leshna.

Retail Footprint

Since its launch, Irasva has continued to expand its presence in the Indian luxury jewelry market, with a growing retail footprint across Mumbai. Irasva currently has a retail presence in Mumbai, where the stores allow customers to experience our fine jewelry collections in person.

Talking about the brand’s growth journey, Leshna said, ‘‘We see a growing opportunity in contemporary, everyday fine jewelry rather than just for traditional occasions. This is a direction we want to build on at Irasva, with a stronger focus on versatile, modern designs that appeal to a younger, style but also value-conscious consumer. As we expand our retail and digital presence, the goal is to make Irasva a brand that customers can turn to for both meaningful occasions and everyday purchases.’’

Franchising Ecosystem for Brand’s Expansion

Leshna further shares that the expansion has to be approached carefully, particularly in the fine jewelry segment.

‘‘Opening a store is one thing, but building customer trust and ensuring that people come back is what really matters,’’ says Leshna.

In jewelry, customers pay attention to the smallest details, whether it is the quality of a piece, the way it is presented, or the service they receive. The brand needs to be sure that these standards are maintained across locations.

‘‘I believe the right partnerships can support expansion, but the decision has to make sense for the brand in the long run,’’ says Leshna. ‘‘Franchising can help us enter markets where a local partner already understands the customer and the business environment. It can be a practical way to grow, provided there is a shared understanding of what the brand stands for and how it should be represented.’’

Product Portfolio

Sharing the brand’s portfolio, Leshna said, ‘‘We offer natural and lab-grown diamond jewelry across different styles. Our collections include smaller, contemporary everyday pieces with an international design sensibility, as well as more elaborate, higher price-point designs for special occasions. We enjoy working with different materials, colours and forms, as they allow us to create collections that each have their own identity.’’

The brand’s ‘Esperia’ collection features coloured gemstones and diamonds in geometric designs, while ‘Amara’ takes inspiration from Jadau jewelry and gives it a contemporary interpretation. ‘Mosaique’ brings together French enamel and Indian artistry, and ‘The Irasva Essentials’ collection is designed for customers who prefer versatile, everyday jewelry that can be worn regularly and styled effortlessly with different outfits.

The brand also offers lab-grown diamond jewellery through ‘With Clarity, New York,’ which focuses on timeless, versatile designs and everyday essentials. While this collection caters to customers looking for classic, wearable lab-grown diamond jewelry, ‘ISSHŌ’ brings a more playful and contemporary perspective to the category, with sculptural forms and distinctive designs that offer a modern, fun take on lab-grown diamonds.

‘‘Our Esperia, ISSHŌ, and With Clarity collections feature more elaborate designs, distinctive craftsmanship, and elevated aesthetics, catering to customers seeking statement pieces and higher price-point jewellery for special occasions and more luxurious expressions of personal style,’’ says Leshna.

Personalization and Celebrity Collaborations

Personalisation is another important part of the brand’s USP, enabling the brand to offer customers a more distinctive and meaningful shopping experience. By catering to individual preferences, styles, and requirements, the brand allows customers to explore products that reflect their personality and personal choices.

‘‘There is something special about creating or choosing a piece that holds meaning beyond its appearance, and we enjoy helping customers find jewellery that feels personal to them,’’ says Leshna.

Talking about the brand’s celebrity collaboration, Leshna shares that ISSHŌ collaboration with Shibani Akhtar marks the brand’s venture into lab-grown diamond jewelry. With this collection, the brand wanted to explore modern, sculptural designs that feel distinctive yet remain easy to wear. It has been an interesting addition to the brand’s portfolio.

‘‘A celebrity collaboration can certainly help a brand reach a wider audience, but for me, the connection has to feel genuine,’’ says Leshna. ‘‘The person should have some relationship with the idea behind the collection, otherwise it can end up being just another promotional exercise. With Shibani Akhtar, the idea was to build something through a creative collaboration rather than simply have a celebrity endorse our jewellery. ISSHŌ gave us the opportunity to explore a particular design direction together.’’

Leshna further emphasizes that these partnerships also introduce the brand’s work to people who may not have come across Irasva before. But one must always come back to the product itself. The jewellery needs to appeal to the customer and have its own identity. That is what gives a collaboration value beyond the initial attention it receives.

Irasva’s Outlook on the Indian Jewelry Market

The Indian market has always had a strong relationship with jewelry, but the reasons people buy it are becoming more varied.

‘‘Weddings and festivals remain important, but there are also customers buying jewellery for themselves, for everyday wear or simply because they have found a design they like,’’ says Leshna.

Younger consumers are more willing to experiment with their choices. They are looking at contemporary designs, mixing different styles and moving away from the idea that fine jewellery should only come out on special occasions.At the same time, buying fine jewellery is still a considered decision. Customers want to know what they are paying for, and trust plays a major role in that decision. Online platforms have made it easier to discover brands and compare designs, but the quality of the product and the confidence a customer feels while buying it remain important.

‘‘In my opinion, there is room for brands that understand both sides of the market: the emotional value that jewellery holds in India and the changing way people want to wear it,’’ highlights Leshna.

Franchising in Jewelry Sector

Leshna believes that India has very different jewelry markets and it is difficult to approach every city in exactly the same way. Local partners can bring a better understanding of what customers in a particular market prefer and how they make purchasing decisions.Franchising can help brands establish a presence in new locations by working with people who already have that local understanding. It can also create opportunities for businesses that want to be part of an established retail brand.

However, jewellery is a business where reputation matters enormously. Customers need to know that the quality, product information and service will be reliable wherever they shop. That responsibility cannot be overlooked just because the business is expanding.

‘‘I see franchising as one possible route for the growth of organised jewellery retail in India. Its success really depends on finding partners who understand the business and are willing to maintain the standards the brand has set,’’ says Leshna.

Current Trends 

Further sharing about the current trends in the jewelry segment, Leshna explains that the customers are becoming more individual in their choices. They are not necessarily looking for a complete matching set anymore. Many prefer to put together their own combinations, experiment with layering or choose a piece that stands out because it reflects their personality.

There is also a growing interest in coloured gemstones, sculptural designs and contemporary jewelry that takes on traditional Indian jewellery.

Another shift is that people want jewellery they can wear on more than one occasion. They may want to style the same piece differently for different places such as work, an evening out or a family celebration.Personalisation is also becoming important as well. Jewellery often has an emotional connection, and people like the idea of choosing something that feels specific to them.

‘‘Beyond the designs, customers also expect clear information about what they are buying, along with good service and support after the purchase. I think the brands that listen to their customers and pay attention to these details will be better placed to build lasting relationships,’’says Leshna.

Demi-Fine Jewelry Designs Encouraging Fine Jewelry Segment

For Leshna, the advent of the demi fine jewelry segment in the jewelry sector is a sign that people are becoming more open to different kinds of jewelry. This category (demi-fine jewelry) allows people to experiment with trends, while fine jewellery appeals to those looking for precious materials, craftsmanship and pieces they may want to keep for a long time. It also encourages fine jewellery brands to think more carefully about everyday wear.

‘‘I don't think one segment necessarily takes away from the other,’’says Leshna. ‘‘Customers want options and what they choose often depends on their budget, personal style and how frequently they plan to wear a piece. Further, customers don't want every purchase to be reserved for a wedding or a formal occasion. They want designs that fit naturally into their lives. That is something we keep in mind at Irasva. Fine jewellery can be part of everyday dressing, too. It really comes down to creating pieces that people enjoy wearing and feel are worth investing in.’’

Future Plans

Talking about the brand’s future plans, Leshna said, ‘‘Over the next five to ten years, I would like to see Irasva grow its presence in India and reach customers in more markets. We want to continue developing our collections, strengthen our online presence, and make it easier for customers to discover and shop with us.’’

The brand is also interested in exploring new design possibilities. Their work with ISSHŌ and lab-grown diamonds is one example of how they are looking at different opportunities within jewelry.

‘‘As customer preferences change, I think it is important for us to remain open to new ideas rather than approach the business in the same way year after year.At the same time, I want us to be mindful of how we grow. Jewelry is a personal purchase and building a brand in this category takes time. I would like Irasva to become a name that customers think of not just for special occasions, but also when they want to buy something for themselves. We will continue to work towards growing our business, creating designs people connect with, and building a brand that customers return to,’’ signs off Leshna.