Mumbai-based venture capital firm LightBox Ventures has invested $5 million in Melorra, an app-only startup that aims to be the ‘Zara’ of the jewellery industry.
Indian jewellery designs have stayed close to traditional forms, with only slight modifications over decades. Gold and diamond jewellery is also expensive, and caters to people with high income levels and is considered an investment, and to be worn only on special occasions. Most women store it in lockers, either in the house or in banks.
