In this episode of ELI, we delve into the fascinating world of lab-grown diamonds with Achal Gupta, the founder of Craftier! Discover his journey into the jewelry industry, the truth about the natural vs. lab-grown diamond debate, and the challenges and future of the Indian jewelry market. Achal shares valuable insights on transparency, the power of omni-channel retail, and his innovative franchise model for Craftier. A must-watch for anyone interested in diamonds, jewelry, and entrepreneurship!Chapters:0:00 Intro to Achal Gupta & Craftier0:30 Achal's Background and Entrepreneurial Journey1:17 From Bookish Knowledge to Diamond Grading2:00 Launching Rivera Diamonds and Entering Retail4:32 The Attraction to the Luxury Jewelry Industry6:56 Understanding the Underlying Problems in the Jewelry Market10:25 The Importance of Transparency and the Role of Karatometers14:01 Gold vs. Diamond: Fundamental Differences18:37 Natural Diamonds vs. Lab-Grown Diamonds: What's the Real Difference?21:07 The Pricing Difference Between Lab-Grown and Mined Diamonds21:41 Why Launch Craftier? Sustainable Luxury and Affordability25:00 The Power of the Omni-Channel Model for Jewelry Retail28:51 Challenges for Online-Only Jewelry Brands31:38 Craftier's Innovative Franchise (Business Partner) Model35:59 Rewarding Long-Term Business Partners with Equity38:31 Lessons Learned: Achal's Advice for Aspiring Entrepreneurs39:49 Outro1