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Ankur Daga is co-founder and CEO of online jewelry retailer Angara.
How would you describe your job to someone who doesn't work in retail? My job is to lead the Angara team in reinventing the jewelry buying experience, transforming it from a transaction into a journey. We’re reimagining the entire process of buying fine jewelry, from sourcing gemstones and designing each piece to merchandising to online customers, and ultimately creating an exceptional product. Since our founding, I have remained committed to providing jewelry that blends high-quality design with superior craftsmanship, all at a more accessible and affordable price.
One thing we can’t guess about your job from your LinkedIn profile? I’m a racecar driver in my free time! I love competition and the thrill of constantly calculating risk versus reward. There are a lot of parallels between entrepreneurship and racecar driving—you’re always thinking three turns ahead and figuring out how quickly you can accelerate safely to reach your next goal.
What’s your favorite project you’ve worked on? Recently, Angara entered the Indian market, marking a significant milestone and a notable opportunity for our brand, expanding access to our natural and lab grown diamond and colored gemstone jewelry. It also represented a personal milestone for both my wife/co-founder and me, highlighting our family ties to India and the jewelry market. This was an all-hands-on-deck expansion that came with hurdles, but ultimately proved to be extremely successful, achieving profitability just six months after the online soft launch.
Which retail trend are you most excited about right now, and why? Colored gemstones, whether lab-grown or natural, have gained popularity in recent years, and it’s a category we have been dedicated to revitalizing throughout our company’s journey. There’s a lot of opportunity that the growing demand of lab grown unlocks. Consumers can now purchase the pieces they’ve always dreamed of at a price they can afford, democratizing the jewelry industry and unlocking a whole new suite of options for them. Dream engagement rings used to be out of reach for a majority of consumers and now, you can get a two to three carat diamond for a fraction of the price.
What’s your go-to coffee order? A single shot of espresso twice a day. Keeps the energy high.
The worst piece of advice I ever received was…From a hiring standpoint, that you can always try someone out for three months and see how it goes. Whenever we’ve done that, it’s ended up being the wrong decision. I’ve learned that we need to be 110% sure about someone before bringing them onto the team.
What was your favorite retail product when you were 15, and what’s your favorite retail product now? While not a specific product, I loved going through the BEST catalog at 15 (BEST was a department store across the US, and this was basically Amazon in a book). I’d compare various products and see which option I’d buy if I had the choice. Now, my favorite product would have to be the Eight Sleep Pod 4 Ultra. It’s helped me sleep for an hour and a half less every day, while feeling more rested, which is extremely beneficial when trying to grow a company.