Rajshree Upadhyaya
Jaipur
Business Remedies. Palmonas was born out of a very personal problem. Pallavi Mohadikar, a passionate entrepreneur and jewellery lover, often faced skin allergies when wearing imitation jewellery. Her husband, Dr. Amol Patwari, an orthopaedic surgeon, casually mentioned that surgical tools don’t cause reactions due to the hypoallergenic metals used. That insight sparked a business idea. Why not create stylish, durable, skin-safe jewellery that didn’t cost a fortune? In July 2022, the couple launched Palmonas, India’s first demi-fine jewellery brand, from Pune.
Unlike imitation jewellery that tarnishes or irritates the skin, Palmonas offers high-quality pieces made from 925 sterling silver and surgical-grade stainless steel with a thick 18K gold vermeil coating. This unique composition makes the jewellery waterproof, tarnish-proof, and hypoallergenic, perfect for daily wear. The idea of blending fashion-forward design with medical-grade materials clicked instantly with millennial and Gen Z consumers who wanted luxury without the price tag or discomfort.
Pallavi was already a seasoned entrepreneur, having co-founded Karagiri, a digital-first saree brand she exited after it was acquired by Mensa Brands. With Palmonas, she took her expertise a step further, combining aesthetics and function in a category that hadn’t seen much innovation. Within 48 hours of its first launch, the brand’s initial collection of 30 designs sold out. That was the beginning of a rapid rise.
Fate took another turn when Bollywood actress Shraddha Kapoor unknowingly bought Palmonas jewellery under the name “S Kapoor.” She later posted photos of her wearing the pieces on Instagram, creating an organic buzz. Pallavi, then heavily pregnant, reached out with a heartfelt reel. To her surprise, Shraddha responded and offered to collaborate. Impressed by the brand and the founder’s authenticity, Kapoor didn’t just agree to endorse the label, she became a co-founder, acquiring a 21% stake and actively participating in design and marketing decisions.
In 2024, Palmonas appeared on Shark Tank India, seeking Rs. 1.26 crore for 1% equity. The founders, clear in their vision, pitched confidently. While some sharks raised concerns about their “lifetime warranty” claim, Pallavi clarified it, referring to a graded store credit model based on product usage. The pitch sparked debates but ultimately landed a deal with Namita Thapar and Ritesh Agarwal, who agreed to invest with a small royalty clause. Notably, Shraddha Kapoor chose not to appear in the episode, believing the spotlight should remain on the core team. Following the Shark Tank episode, Palmonas witnessed explosive growth. With over 500 product designs, five exclusive brand outlets, and global shipping to more than 200 countries, the company scaled rapidly. From Rs. 3.8 crore in revenue in FY23, they crossed Rs. 13.5 crore in just eight months of FY25, with projections hitting Rs. 30–35 crore by year-end. Their marketing, powered by social media storytelling and Kapoor’s celebrity influence, has built a strong emotional connection with consumers.
The brand name itself, Palmonas, is a blend of Pallavi, Amol, and their daughter Anaya, reflecting how personal and close-to-heart this venture is. Their team culture mirrors this intimacy. Weekly brainstorming sessions, transparent communication, and an obsession with customer experience keep the momentum alive. While there have been occasional concerns about delays or service, the team remains committed to improving operations and exceeding expectations.
Palmonas isn’t just selling jewellery; it’s offering a new lifestyle choice, affordable luxury designed for everyday wear, backed by science, passion, and purpose. In a market long divided between imitation and expensive fine jewellery, Palmonas has carved a refreshing middle path. With a unique product proposition, solid leadership, and star-powered visibility, the brand is poised to redefine how India and the world perceive modern jewellery.
