FLO Pune, under the leadership of Chairperson Ms. Poonam Kochchar, hosted an informative session for its members, “Scaling a Startup in a Legacy Industry: The Business of Lab-Grown Diamonds,” featuring its co-founder, Ms. Vandana Jain, known for reimagining modern fine jewellery in India.
The objective of hosting the Lucira event under the Startup Vertical of the FICCI FLO Pune Chapter is to introduce members to the evolving world of innovation-led luxury, sustainable entrepreneurship, and future-focused consumer brands through the journey of Lucira.
The session focused on the startup journey behind building Candere from 2012 into a nationally recognised jewellery brand, which was later acquired by Kalyan Jewellers and Ms. Jain further expanded it to 100 stores and revenue of 300cr. Members gained firsthand founder insights into disrupting a traditional and trust-driven jewellery industry through innovation, digital-first strategy, and brand positioning.
A strong emphasis was placed on founder-led branding, content creation, marketing investment, and consistent visibility as critical drivers for startup growth. Vandana Jain shared insights on reinvention and entrepreneurship through the launch of Lucira Jewellery in 2024, with expansion plans to 20+ stores across India.
Key Takeaways
- The lab-grown diamond industry is growing at a fast pace, and it has global potential.
- It is sustainable, ethical, and technology-driven alternatives in the luxury and jewellery sector.
- Inspire women entrepreneurs through the startup journey of founder Rupesh Jain and the evolution from Candere to Lucira.
- Emerging trends in sustainability, retail, and D2C business models.
- Facilitate networking and collaboration between entrepreneurs, investors, creators, and industry leaders.
- Responsible sourcing, certification, transparency, and consumer education in the lab-grown diamond ecosystem.
- Pune is a growing hub for innovation, conscious luxury, and startup-led conversations.
Impact & Outcome
Around 30 FLO members participated in this engaging session centered on the startup journey of Lucira Jewellery. Also, the discussion highlighted the rapid evolution of the lab-grown diamond sector and how startups can identify emerging consumer shifts to build scalable businesses. The interaction encouraged women founders and startup-led businesses to think ambitiously, innovate within traditional sectors, and build scalable, future-ready ventures.