National News
Tiffany & Co. Acquires Historic Titanic Pocket Watch for $1.97 Million
Tiffany & Co. has set a new record with the acquisition of a rare 18k gold pocket watch for $1.97 million. The timepiece, once owned by Captain Arthur H. Rostron of the RMS Carpathia, was a gift from three Titanic survivors—Mrs. John B. Thayer, Mrs. John Jacob Astor, and Mrs. George D. Widener—who expressed their gratitude for his heroic efforts in rescuing passengers after the Titanic sank.
The pocket watch, purchased from Henry Aldridge and Son Ltd., is engraved with a heartfelt message from the survivors and features the monogram “AHR” on its caseback. This historic artifact honors Captain Rostron’s courage and pivotal role in saving hundreds of lives. Christopher Young, Vice President of Creative Visual Merchandising at Tiffany & Co., emphasized the significance of the acquisition, stating that it highlights the brand’s long-standing connection to history and its role in the luxury world.
National News
Palmonas Raises $40 Million in Series B, Accelerates Omni-Channel Expansion
Shraddha Kapoor-Backed Demi-Fine Jewellery Brand to Scale Offline Retail and Strengthen Market Presence
Palmonas, the Shraddha Kapoor-backed demi-fine jewellery startup, has raised $40 million (approx. Rs. 373 crore) in a Series B funding round, led by Xponentia Capital and Vertex Growth Fund, with participation from existing investor Vertex Venture
The fresh capital will be utilised to expand its offline retail footprint, building on its growing omnichannel presence across online platforms and physical stores.
Founded in 2022 by Pallavi Mohadikar and Amol Patwari, with Shraddha Kapoor joining as co-founder, Palmonas operates in the demi-fine jewellery segment, offering affordable yet premium designs crafted from sterling silver and stainless steel with gold plating. The brand targets the space between fashion and fine jewellery, catering to a young, aspirational audience.
The company has seen rapid growth, with its operating revenue surging over 40X to Rs. 39 crore in FY25, up from Rs. 97 lakh in FY24. Notably, Palmonas also turned profitable, reporting a profit of Rs. 4.3 crore during the same period.
The brand had earlier raised Rs. 55 crore from Vertex Ventures and gained visibility through Shark Tank India Season 4, securing Rs. 1.26 crore funding from Namita Thapar and Ritesh Agarwal, at a Rs. 126 crore valuation.
Operating in a competitive space, Palmonas goes head-to-head with players such as GIVA, BlueStone, and Limelight Lab Grown Diamonds, as it continues to strengthen its position in India’s fast-growing demi-fine jewellery market.
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