Affordable Jewelry Platform Pipa+Bella Hits at the Market : Gets Acquired by Nykaa

Pipa+Bella is a digital fashion brand and retailer, providing affordable jewelry to all, with new styles introduced every week. It was founded in 2013 by Shuchi Pandya, Komal Pandya, and Shivani Pandya and has a current valuation of $170K.

By Kriti Taggarse Sep 30 2021 7:24PM 4751 Read
Shuchi Pandya’s Pipa+Bella : One-stop Ultimate Fashion Online Jewelry Store

Pipa+Bella is a start-up founded in 2013 that offers unique jewelry created and curated for those looking for a one-stop online experience. Shuchi Pandya, Komal Goel, and Shivani Pandya founded Pipa+Bella in 2012, and the start-up currently offers ready-made and custom-made fashion jewelry at affordable prices to over 40,000+ customers around India. Worn by top Bollywood celebrities, their jewelry has been featured in Vogue, Harpers, Femina, Grazia, Cosmopolitan, Elle, Economic Times and The Wall Street Journal. The start-up was recently acquired by Nykaa, the cosmetics conglomerate, and will continue to provide services on its website while being a part of the Nykaa portfolio.

Note : The target audience for Pipa+Bella are urban women between the ages of 22 to 35 who keep up with fashion trends.

Pipa+Bella : Key Points

  • Legal Name - Pipa Bella Accessories Pvt. Ltd.
  • CIN - U36931MH2012PTC233232
  • Parent Company - Nykaa Fashion Pvt. Ltd. (CIN - U18102MH2019PTC320627)
  • Incorporation - July 11, 2012
  • Founders - Shuchi Pandya, Komal Goel, Shivani Pandya
  • Headquarters - Mumbai, Maharashtra, India
  • Industry - E-commerce, Fashion, Jewelry, Retail
  • Last Funding Type - Series A
  • Current Total Valuation - $170K as of May 20, 2021
  • Annual Revenue - $1.23M as of December 31, 2018
  • Products/ Services - Fashion Jewelry Retailer
  • Company Type - Privately Held, Non-Govt; For-Profit
  • Website -

Pipa+Bella : Founders

  • Shuchi Pandya The current CEO and co-founder is an alumnus of The Wharton School of Business and began developing the idea of Pipa+Bella in 2010 while pursuing her MBA degree.
  • Shivani Pandya Co-founder and Creative Director, is an alumnus of New York University.
  • Komal Goel Komal is the co-founder and the current Chief Creative Officer of Pipa+Bella. If they hadn’t founded Pipa+Bella, Shuchi said she would be “a scuba diving instructor or a beach bum”, and Komal would be a child psychologist.

Pipa+Bella Startup : The Story of Brand Name

The brand name, “Pipa+Bella”, celebrates the different styles of a typical “Pipa” woman, who is experimental, edgy, and bold, and a typical “Bella” woman, who is conservative, graceful, and classic. Their product range exemplifies this two aesthetics.

In colloquial Spanish,’ ‘Pipa’ means someone adventurous, and ‘Bella’ in Italian means demure and graceful.

Pipa+Bella : Features

  • 256 SSL Encryption Secure Payment
  • Free Shipping (subject to conditions)
  • 24-hour shipping (subject to availability and COVID delays)
  • Curated product care information
  • Personalized Customizations
  • Gifting
  • The Style Team helps pick out the most suitable accessories for individual needs.

Pipa+Bella : Competitors

  • Ornativa
  • Crunchy Fashion Pvt. Ltd.
  • Voylla Retail Pvt. Ltd.
  • MM Retail Pvt. Ltd.
  • Isharya
  • Zariin
  • Craftly
  • Jabong
  • Zilory
  • Voonik

Fun Fact : Within weeks of launching, Katrina Kaif’s styling team wanted to feature Pipa+Bella in a movie promotion tour.

Pipa+Bella: Awards and Achievements

Pipa+Bella jewelry has been worn by some of the biggest names in the Bollywood industry, from Parineeti Chopra and Alia Bhatt to Kareena Kapoor and Kalki Koechlin. It has graced the pages of Vogue, Cosmopolitan, Elle, and The Wall Street Journal, among others.

  • Google SMB Heroes 2017 Award
  • Top 25 Start-ups by Singapore’s Javelin Startup-O Victory Fund
  • Digital Women in E-Commerce 2017 Award by

Pipa+Bella Startup Marketing Strategy – social media & Data Analysis

  • Social Media Marketing Social media is a large part of the company’s marketing strategy, and the brand targets social media and tech-savvy women in their 20s and 30s. Their funding is aimed at three factors; marketing, human resources, and technology. With more investors comes the ability to recruit talent and advertise through campaigns. The brand’s unique selling point is in its design and supply chain and the introduction of 100+ styles every week.
  • Data Analysis Shuchi Pandya believes that data can be used to understand consumers better, and she uses research based on age, psychological profiles, and geography extensively. The company created products based on past transaction data and future trends to reduce bounce rates, promote engagement, and improve goal conversion.

Pipa+Bella : Funding & Investors

Bootstrapped for two years, Pipa+Bella has raised a total of $1.6M over two rounds of funding from 2015 onwards. Their investors are Lion Rock Capital, Kishore Ganji, Rajesh Sawhney, Teruhide Sato, Roopa Nath, Hari Kumar, and Fireside Ventures as of 2018.

DateStageAmountNo. of InvestorsLead Investors
09/04/2018Series A$1M1Fireside Ventures
28/07/2015Seed Round$600K6LionRock Capital

Source :

Pipa+Bella Challenge – Competition

The biggest challenge faced, according to Shuchi Pandya, was a competitive yet disorganized market. The product category, affordable yet aspirational, is not one driven through traditional branding and advertising. For those looking to buy affordable jewelry, they first check a street vendor; this is not necessarily feasible for all. However, Pipa+Bella offers access to various good quality yet affordable accessories without ever having to leave home.

Pipa+Bella Financial Numbers : Growth and Revenue

Beginning with only a three-person team, offline trunk shows, exhibitions, and recruited brand ambassadors, Pipa+Bella was bootstrapped until they managed to gain funding for endorsements and campaigns. Here are some financial numbers for the start-up:

  • The fashion jewelry market has grown significantly in the past few years due to the rising prices of gold and silver.
  • According to Allied Market Research studies, the global costume/ fashion jewelry market size was valued at $25.6 billion in 2015 and is expected to reach $40.6 billion by 2022.
  • Shuchi Pandya claims to have seen a 300% increase in revenue year-on-year, and the start-up brand hit operational profitability in FY 17-18.
  • On April 12, 2021, Nykaa, the online marketplace for various beauty and wellness products, acquired Pipa+Bella. Upon acquisition, Pipa+Bella became a subsidiary of Nykaa.

Pipa+Bella - Future Vision

Pipa+Bella aims to use the funding to expand distribution channels; internationally, as well as offline. It has grown from a three-person team to over thirty-five, and Nykaa Fashion aims to spur offline expansion with the acquisition of Pipa+Bella.

Kriti Taggarse
Kriti Taggarse View More Posts

Kriti Taggarse grew up in Hyderabad, Telangana, and is pursuing a degree in law. She adores basketball, dragons, cold coffee, and scribbling early in the morning. Born into a family of readers, she supposes she more articulate when writing than speaking.

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