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Aditi and Ankur Daga had a daring concept for the jewellery trade: to personal the net marketplace for coloured gems. Sure, De Beers had offered the tradition on “a diamond is perpetually” since 1947, however by 2005, the Dagas felt individuals had been prepared for a change.
They weren’t so certain, nonetheless, about buyers. They apprehensive VCs would not admire the rainbow; they’d simply need excessive gross sales and quick returns. So the Dagas shelved their imaginative and prescient, and launched a enterprise that principally offered diamonds, referred to as Angara.
They’d married and studied as grad college students at Harvard, each from households within the jewellery house in India, and thought they understood the market. However the competitors was stiff. They did not get the income to draw buyers. It took virtually going bankrupt for them to learn to construct Angara into an organization with 500-plus workers, 10 places of work world wide, and annual income of $100 million.
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