Pratiksha Jewelry

Pratiksha Jewelry Eliminates the Middleman

Pratiksha Jewelry helps customers understand what characteristics drive value in the jewelry industry.

By Michelle Valigursky
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Using multi-faceted gems and precious metals, the designers at Dallas-based Pratiksha Jewelry create pieces worthy of being passed down from generation to generation. For Co-founder and Creative Director Pratiksha Vaidya 09B, the process of crafting heirloom quality jewelry at direct-to-consumer prices is deeply rewarding.

“In an overly saturated industry, the most frequent question I get is, ‘Why start a jewelry company?’ Well, it’s simple. I worked in a conservative industry for many years, but I love – no, crave – color,” she explains. “The more time I spent in the professional world, the more I wanted to express myself through my outfit – including accessories. But the typical luxury brands were so cost-prohibitive that it broke the bank. And while the fun costume jewelry was great, it would never last beyond a few months. I wanted both. I wanted fashion AND quality.”

In an industry full of accessories shops and high-end jewelry retailers, Pratiksha Jewelry offers a cost-efficient solution for mid-range, yet elegant, jewelry. Carving its niche, Pratiksha offers concierge service and style profiles to make shopping for statement pieces more enjoyable. In addition, custom design service is available for unique, one-of-a-kind creations that are delivered with full appraisals and high-resolution imagery to share with friends and family.   

“We streamlined the value chain to eliminate the middlemen that unnecessarily drive up costs,” Vaidya explains. “Since we operate as both the manufacturer and the diamond/gemstone cutter, we’re able to offer the fine quality you’ve come to expect from the most trusted jewelry brands at more accessible prices.”

Pratiksha Jewelry has proven this concept since its 2015.

Parag and Pratiksha Vaidya

Pratiksha Jewelry Co-Founder Parag Vaidya (left) and Co-Founder and Designer Pratiksha Vaidya 09B (right).

Turning the Jewelry Business “On its Head”

“When I worked in the finance and private equity world of New York City, I was inspired to upgrade everything in my wardrobe,” says Vaidya. “I didn’t want costume jewelry. It always bothered me to pay $200 for a necklace that wouldn’t last.”

Vaidya began to design key pieces that would provide the foundation of the Pratiksha collection. Vaidya now works side-by-side with her older brother and business partner, Parag Vaidya, to leverage a multi-generation family history in the gem and mining business in India.

Using only precious metals and rough cut gems, each piece is handcrafted. “Nothing we offer is glass filled or gold-plated,” Vaidya says. “Our jewelry is designed to endure. Each piece is crafted with classic techniques - hand casting, setting, and polishing - and finished with our hand-picked gems.”

For this new Vaidya generation, “We decided to take the family business and turn it on its head by collapsing the supply chain,” she says. “In the traditional model for jewelry sales, multiple levels of commerce exist, from the harvesting of stones in mines, supplying of those stones to manufacturers, distribution of finished jewelry to wholesalers, who then sell to traditional brick & mortar retail stores. Ultimately, these finished jewelry pieces end up in the hands of consumers, with costly markups at every step of the process.”

Pratiksha Jewelry embraces an innovative business model that benefits the bottom line for consumers. “We’re exposing the underbelly of unnecessary markups,” she says. “We leverage our relationships and industry connections to offer high quality jewelry pieces that might otherwise cost $1,000 for about $350.

Looking forward, Vaidya reflects on what is yet to come. “You could say that fine jewelry is in our DNA,” Vaidya says. “Consumers want to be as educated as possible before making a purchase (especially an expensive one), and we want to be their partner in that journey – help them understand what characteristics drive value and how it translates to a final product. The whole industry is wrapped up in a cloud of illusion, and we want to be a pioneer in demystifying that world.”

Editor’s Note: Looking for some gem education? Learn more in the A-Z Jewelry Hunter’s Field Guide. In the market for a diamond? Read The Advanced Diamond Buying Guide. Follow Pratiksha Jewelry on Twitter, Facebook, Pinterest, Instagram, and Polyvore.

Meet other alumni entrepreneurs like Pratishka through the Emory Entrepreneur Network.