Bollywood actress Shraddha Kapoor is proving that celebrity-backed startups can become successful businesses when backed by strong fundamentals.
Her jewellery brand Palmonas has emerged as one of the fastest-growing consumer brands in India after opening 60 stores in only three years, with every single store reportedly making a profit.
Palmonas recently raised ₹373 crore in a major funding round, giving the company fresh capital to expand across India.
What makes the story even more impressive is that the company has managed to stay profitable while scaling rapidly.
The brand reported a profit of around ₹4.3 crore in FY25, showing that its growth is not based only on heavy spending but also on strong business planning.
The company was founded in 2022 by Pallavi Mohadikar and Dr. Amol Patwari.
Later, Shraddha Kapoor joined the company as a co-founder instead of just becoming a brand ambassador.
This gave the company more visibility and helped it connect strongly with younger customers, especially women looking for affordable luxury jewellery.
Palmonas focuses on demi-fine jewellery, which is positioned between expensive gold jewellery and low-cost fashion jewellery.
The company sells necklaces, rings, bracelets and earrings made from sterling silver, stainless steel and gold plating.
Its products are designed to be waterproof, anti-tarnish and suitable for daily use. This idea has become popular among young Indian consumers who want stylish jewellery without paying premium luxury prices.