Varyaa Creations Ltd. IPO

Historically, our company is engaged in the business of wholesale trading of gold, silver, precious stone, semi-precious stone. Apart from the above, from this financial year onwards, our company also intends to focus on manufacturing and selling of jewellery ‘s. Our company manufactures ... its jewellery through job worker located in Mumbai. As on date of filing this Prospectus, our company’s registered office and business operations are based in Mumbai only. Historically, our company has earned its revenues from wholesale trading of gold, silver, precious stone, semi-precious stone and from sales of jewellery. Currently, our products are sold only through the offline market, i.e. from our registered office located in Mumbai. Our customers can also make inquiry through our online platform www.varyaacreations.com.Further, our company will also be selling its products through its own online platform, i.e. www.baubleberry.com. This online platform will facilitate and provide our customers with an experience of Phygital marketing (physical plus digital-a blend of digital experiences with physical marketing), i.e., an option to browse variety of jewellery through its catalogue. In coming few years, our company shall be earning its revenues not only from bullion trading but also by selling products through offline market and online market. The major raw material used for making our products is gold, precious stones, gemstones, semi-precious stone, silver etc. which is further provided to the job worker who manufacture the jewellery for us. The job worker manufactures our products as per design and pattern provide by us. Designing of our products are done in-house. We have not entered into any formal contract or agreement with the job worker. We get our products manufactured based on the orders basis and as and when need basis. We procure gold, silver, gemstones, precious and semi-precious stones majorly through the bullion market and jewellery market dealers located in Mumbai. Our jewellery is widely sold through B2B and B2C platform. We also sell customized jewellery to customers. We offer our jewellery across different price points so as to maximize our potential customer base. We endeavour to maintain the finishing and quality of our jewellery by ensuring control quality, timely delivery and competitive prices. Our product portfolio includes Necklace, Earring, Tops, Ring, Bracelet, Bangles, Gemstones, Diamonds, Lab Grown diamonds, Pearls and we also make customized jewelleries as per customer’s needs. Recognising the growing demand for ethically sourced diamonds, we have recently expanded our portfolio to include Lab Grown Diamonds. Read more

GEMS AND JEWELLERY INDUSTRY OVERVIEW
INTRODUCTION
As of February 2021, India’s gold and diamond trade contributed ~7.5% to India’s Gross Domestic Product (GDP) and 14% to India’s total merchandise exports. The gems and jewellery sector are likely to employ ~8.23 ... million persons by 2022, from ~5 million in 2020. Based on its potential for growth and value addition, the Government declared the gems and jewellery sector as a focus area for export promotion. The Government has undertaken various measures recently to promote investment and upgrade technology and skills to promote ‘Brand India’ in the international market. The Government has permitted 100% FDI in the sector under the automatic route, wherein the foreign investor or the Indian company do not require any prior approval from the Reserve Bank or the Government of India. The Indian Government also signed a Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE) in March 2022, this will allow the Indian Gems and Jewellery industry to further boost exports. CEPA will provide the industry with duty-free access to the UAE market. India’s Gems Jewellery Export Promotion Council (GJEPC) aims to triple its exports to the UAE post the CEPA. Read more