Speaking about the Journey so far, Talisman’s Founder, Mr. Rishabh Kothari said,
It’s been a challenging yet exciting journey. Being in the jewelry industry for more than 10 years and having worked with various brands abroad as a B2B supplier; we never assumed that foraying into the B2C retail would be so challenging. It has been a great learning curve for us and has not only helped in understanding the reach and efficiency of online commerce but has also helped us understand the needs of digital first consumers. For us, every day brings new challenges but with them comes unique opportunities to reinvent fashion accessories for the youth of India and that’s what drives us.
We have gotten into the jewelry retail market which is not only niche (organized retail is merely 2-3%) but is also fragmented to an extent. The most prominent aspect would be the fact that currently there are two sides to the jewelry market: brands which dominate GOLD+DIAMOND jewelry and companies/vendors dealing in fashion jewelry made in brass (metal alloys) and synthetic crystals. We as a jewelry brand are trying to create a unique market within the existing eco-system offering “Precious Metal – such as silver” and “Precious Stones” at a price point of imitation jewelry. All our SKUs are priced within comfortable price points of INR 1499/- to 2499/- and are crafted with the utmost care and quality.
The second aspect of our brand, which is the most exciting aspect of the offering, is our HERO PRODUCT CHARM BRACELETS. Genuine high-quality charm bracelets set in 925 Sterling Silver as a category is a very new and probably a first for the Indian market. We give our buyers the flexibility to create their own wrist bracelets by adding charms unique to them and their personality, story, etc. Our launch collections have bands made in Sterling Silver (and Turkish leather) and 500+ uniquely curated charms for every occasion, giving our buyer endless possibilities to create their own story. The challenge here is that the concept being new requires a lot of education and creates a challenge of differentiating our precious metal sterling silver offering from the imitation bracelets available in the market.
I find that maintaining a daily routine helps ensure that you’re taking out sufficient time for yourself. I am a morning person and like to spend an hour reading the newspaper and working out. Taking the time out to do small things like these go a long way in striking a healthy work-life balance.
Out of the busy schedule, how much time do you take out for yourself to focus on your health and inner peace:
I have a dedicated time set of an hour daily for my morning run at 6:00 am as well as I work out 3 to 4 days a week for 40-45 mins.
A brief about the venture and what made you start this:
TALISMAN is a precious metal fashion jewelry brand for the digital-first millennial. Luxury is often associated with a heavy price tag or a high-end brand, and our brand Talisman is an attempt to change that. We have created luxury pieces at affordable prices that anyone can wear. To us, jewelry is a way of expressing yourself and everyone should get a chance to experience that. Simply put, think of TALISMAN as a design studio that offers it’s customers a unique space to create, innovate and be themselves.
Why did you select this name?
TALISMAN is derived from the German language and means ‘an object worn to bring luck’ and stands for ‘unique charm’. The name instantly connected with our proposition and values so it stuck with us. The TALISMAN logo is a depiction of the four most important elements of the universe: land, sun, sky, and water coming together as a whole. It connects with the brand’s vision of putting different components together to craft a unique piece.
How do you manage work stress?
Watching movies, running and spending time with the family helps me unwind after a long day at work.
We have bootstrapped to date. We are a vertically integrated model wherein we not only are selling the product but are also manufacturing the same to assure the quality. The key reason we can offer silver pieces at a competitive price is the fact that we are a manufacturing unit with a team responsible for the ethical sourcing of stones.
We do intend to and are actively seeking to bring on board a strategic investor who can help us strengthen our retail presence in the Indian market and bring growth for the brand across various retail channels. We do not intend to raise funds just to get the financial investment but are looking to have someone on board, who understands our vision of offering a genuine quality product that has lifelong value.
Any misconceptions about the industry:
The biggest misconception about this industry is that luxury, fashionable jewelry comes with an expensive price tag.
I think the best way to define the success of an up and coming startup brand such as ours is through the eyes of our customers. It’s truly overwhelming when we hear customer feedback on how much they appreciate our products.”
Recently, one of our customers wrote to us on Instagram saying, “The product is very pretty and is on par with international brands in terms of quality. Thank you for making this so good, you guys are doing an amazing job and I will definitely be ordering more bracelets from you.”
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