February 1, 2023
Indian Crystal Company wants to be one-stop shop for all spiritual healing needs – YourStory

Indian Crystal Company wants to be one-stop shop for all spiritual healing needs – YourStory

Earlier this week, an astrology column in a magazine recommended that to fix my love life, I needed a quartz crystal. While a crystal may not be enough to put a stop to all my worries, they are all the rage right now.

From jewellery to skincare routines, aura cleansing and emotional healing, crystal enthusiasts swear on the benefits of the material, and the internet is full of advice about the use of crystals.

With the pandemic-induced lockdowns bringing down everyone’s spirits, many started to look for more ways of healing, including crystal-assisted Reiki treatments that were made popular by influencers on TikTok and Instagram. 

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Picking up on the trend, husband and wife duo Japneet Singh and Harleen Kaur founded Indian Crystal Company in July 2020.

“This sector is largely unorganised, and below par quality products are being sold in the market at very high prices. Looking at the gap in this particular space, we saw an opportunity to enter the market,” Japneet, Co-founder of Indian Crystal Company, tells YSWeekender. 

Japneet boasts of a ten-year-long career in ecommerce and marketing, while Harleen has been a practising Reiki healer for a few years.

A witness to crystal healing and aromatherapy, and seeing how it affects people, Japneet and Harleen decided to invest and set up a business. 

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Aromatic candle available at Indian Crystal Company

How it works

The Indian Crystal Company is a D2C (direct-to-consumer) brand that deals in semi-precious stones, crystals, aroma candles, and fragrance oils. 

The Delhi-based startup uses both semi-precious stones and crystals to make jewellery, face-rollers, as well as home decor products. It’s available on ecommerce platforms including Pepperfry, Amazon, Wooden Street, and Bigamart.

“With a growing demand in the field of alternative medicine, we offer a complete solution for all spiritual healing needs,” says Japneet. 

The company sources its products from across India, as well as from Afghanistan and China. The startup also certifies its products to avoid counterfeits and shares them with customers to maintain trust. Indian Crystal has tied up with gemological labs, and are looking to set up their own labs for the certification process.

For certain products like the crystal tree, once the stones and crystals are sourced, the startup employs a team of craftsmen who help in shaping them into the finished products. The aroma candles are manufactured in-house as well. 

Bringing her experience as a healer to the fore, Harleen often lends an ear to customers talking about their dilemmas, and based on their problems, she recommends stones that could help them overcome their troubles. Such counselling, however, does not add to the revenues yet, the founders say. 

The startup has also attracted corporate clients who purchase their products to gift them during the festival seasons. 

Market and revenue

Indian Crystal Company claims to have a customer repeat rate of 30-35 percent. For FY 2022, the startup says it clocked a revenue of Rs 1 crore

The bootstrapped startup is witnessing a revenue growth of 15 percent month-on-month and a user growth of 10 percent month-on-month, Japneet says. 

In the past year, the startup also saw an increase in demand for products like green jade, Japneet says, claiming that it helps boost immunity. It has also provided products for an upcoming Netflix series which will be out in September 2022. However, the founders couldn’t disclose its name. 

According to data by Future Market Insights (FMI), the global gemstone market is estimated to be $30 million in 2022 and is projected to reach $53 million by 2032. The market grew at a CAGR (Compound Annual Growth Rate) of 5.6 percent from 2017 to 2021.

To protect themselves from counterfeit products, consumers in developing economies such as those in the Asia-Pacific are gradually moving away from traditional unorganised jewellery and towards organised branded products, the FMI report said.

Apart from this, factors such as the growing interest in gemstones among millennials, and the use of coloured gemstones in jewellery, ornaments, and other accessories are expected to positively impact the market growth over the forecast period, the report added.

The availability of social media marketing and celebrity endorsements is facilitating the market growth. Online distribution channels are also giving an additional boost, a report by Allied Market Research said. 

Future plans

“As crystals can take various shapes and forms, the scope for growth, innovation and experimenting with new designs is tremendous,” says Japneet. 

In the near future, the startup is looking to expand its crystal product line and focus on a line of fashion wearables. 

Indian Crystal Company is also looking to address anger and stress management by launching a range of aroma incense sticks with blended smells.

“We plan to be a one-stop shop for all the healing therapy products requirements,” says Japneet.

The startup is in conversation with a VC firm to raise its seed round, and Japneet told YSWeekender that they will soon announce closing of the round.

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Source: https://yourstory.com/weekender/indian-crystal-company-spiritual-healing-reiki-amethyst-jade/amp

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