D2C fashion jewelry brand Salty has secured Rs 5.4 crore in seed funding, led by All in Capital and Anicut Capital, with participation from strategic investors like Suashish Diamonds and JK Group, as well as other angel investors.
Founded in 2022 by Sonaal Goel, Twishaa Gupta, and Kanishka Garg, Salty focuses on the younger demographic. The funds raised will be utilized for workforce expansion and the introduction of a new product range.
“The funding is not a mere financial milestone but a testament to the hard work of our team and the unwavering support of our community. We aim to achieve Rs 40 crore annual revenue run rate in 2024 and expand our design range to include over 3000 products,” said Garg.
Salty, claiming to be among India’s rapidly growing accessories brands, has processed over 100,000 orders. The raised funds will be utilized for various initiatives, including hiring for key positions, broadening distribution channels, and strengthening the brand’s digital footprint through the launch of an app. The company aims to achieve sales of 100 crores in the coming years with these strategic moves.
“We are excited to back Salty’s vision of bringing high-quality and affordable accessories to Indian consumers. Salty has shown exceptional efficiency in its one-year journey. We believe that Salty has the potential to become a key player in the e-commerce and jewelry space,” said Ajay Anand, Partner, Anicut Capital.
Around 50% of yearly gold sales in India come from weddings. Several online jewelry brands, such as Bluestone, Melorra, CaratLane, and Voylla, focus on everyday wear in addition to catering to wedding needs. India, the second-largest jewelry market globally, has an annual sales volume of approximately $40 billion. Despite its size, the market is fragmented, with the leading player Tanishq holding less than 7% of the organized sector. D2C aims to differentiate itself by selling products not only for weddings but also for various occasions, including festive seasons.
