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In the world of fine jewelry, Ankur Daga, Founder and CEO of Angara, emerges as a visionary entrepreneur whose journey is defined by a passion for gemstones and a commitment to transform the industry through a more personalized shopping experience. A Harvard graduate with a GIA certification, Ankur's entrepreneurial spirit was evident even during his academic years when friends sought him out for customizing engagement rings, foreshadowing the innovative path he would later embark upon.
A Journey Rooted in Passion:
Ankur's personal journey, from combing the carpet for diamonds at the age of 5 to working in the family's wholesale gemstone business as a teen, reflects a deep connection to the industry. Despite initially choosing a different path through academia and consulting, he was driven to return to his roots by a unique combination of experiences.
Ankur's professional trajectory took an interesting turn at McKinsey & Company, where he worked as a consultant on a jewelry brand, making him realize the untapped potential of the market. Through online retail and customer-focused strategies, he set out to transform the fine jewelry industry with the power of customization.
Customization Redefined:
In 2005, embarking on a visionary marathon, Ankur Daga founded Angara, combining generational expertise and cutting edge technology. His long-term approach deliberately eschewed VC funding, ensuring alignment with his ambitious goals.
Ankur’s revolutionary idea of customization made Angara a pioneer in the industry earlier on. With features like gemstone quality, carat weight and metal choice, every jewelry piece came in a minimum of 64 variants, to suit every style and budget. Today, with its most recent "Create with Angara" (CWA) feature, Angara allows customers to design their own rings from scratch—from a plethora of gemstone options, styles, settings and precious metals–within minutes. Ankur recognized the challenge of shifting customer mindsets towards buying fine jewelry online and strategically addressed it through this accessible, convenient, and highly personal approach, ensuring that what customers had in mind was precisely what they received.
A Bold Vision - Transforming the Industry with Color:
Angara's manifesto which reads, "Color Changes Everything. For the Better," reflects Ankur's core belief. For this reason, he initiated the brand’s always-on campaign, "Celebrate with Color" to encourage people to celebrate life’s precious moments with color.
In an industry dominated by diamonds, Ankur's bold vision is to become the undisputed leader in colored gemstones. It goes beyond selling jewelry; it's about creating a cultural shift, rekindling appreciation for the beauty and significance of colored gemstones that have been overshadowed for decades.
Overcoming Challenges and Vertical Integration:
Ankur notably navigated challenges like lack of awareness about gemstones and customer perceptions about buying jewelry online through his pivotal strategy of vertical integration. Spanning gemstone cutting, polishing, jewelry design, manufacturing, and eCommerce retail, he ensured that everything was handled by his in-house team, addressing challenges head-on.
Empowering Women and Partnership Program within Angara:
In 2022, Ankur introduced a partnership program, fostering innovation and growth. In an effort to nurture entrepreneurship within the company, he is setting up smaller start up units within Angara that are driven solely by individuals, while contributing to the collective success. Furthermore, he champions the empowerment of women in leadership roles, attributing the success of Angara in part to the contributions of his own mother and wife.
Looking Ahead:
As colored gemstones gain a larger share of the market, Ankur envisions Angara as a name synonymous with color. His commitment to the mission, coupled with technological innovations and a dedicated team, positions Angara at the forefront of the colored gemstone revolution in the jewelry industry.
The company has experienced significant growth, and now has a team of around 500 members spread across 10 offices in North America, Europe, and Asia. This global expansion reflects Ankur's commitment to helping the world celebrate with color.
Nomination Title: Ankur Daga, CEO
