Did you ever think buying an engagement ring could have a positive social impact? It is alright if you didn’t, as people don’t typically associate social welfare with engagement rings. However, there now exists a company that has managed to successfully combine the two concepts: introducing Do Amore –a retail luxury jewelry brand founded by an engineer, Krish Himmatramka. Its focus on social welfare distinguishes Do Amore from other jewelry brands.
Do Amore promises to utilize revenue generated from their sales to build water projects in underdeveloped areas. Like most businesses, their business model is not primarily focused on profits but on improving the lives of the lesser privileged. Read on to learn everything you need to know about Do Amore.
Do Amore is a luxury jewelry brand that makes ethical wedding and engagement rings that ultimately provide underprivileged people access to clean water. The ethical sourcing of Do Amore’s rings is one of its major selling points. The company claims to source its diamonds from ethically responsible and conflict-free mines. They don’t work with ones that exploit or underpay their workers.
Moreover, the company is also as big on sustainability, as their products are carefully crafted by hand and made from precious recycled metals. Even their ring boxes are made from one of the most eco-friendly woods in the world: Jarrah wood. The ultimate goal of this multi-million dollar business is to create a positive impact in the world, which is admirable.
Do Amore translates to “I Give with Love” in Latin, which is precisely what the company does! It takes pride in prioritizing ethics over profits. Do Amore has a unique tracking feature that lets customers track the project their engagement or wedding rings helped fund.
Owing to their ethical business practices, the company’s launch was highly successful, giving them the appreciation and exposure they deserved. Their business practices are a breath of fresh air in today’s cut-throat competitive environment.
Krish required financing to expand his business and thus made an appearance on Shark Tank seeking an investment of $600,000 for 6% equity. He started by highlighting his passion for social welfare, which is what his business was based on.
The Sharks were hooked from the beginning and appreciative of his aim to impact the world positively. However, some Sharks had a few concerns. While Mark liked the business idea, he believed that there were no barriers to competition in this business, so he pulled out. Barba and Daniel followed due to their lack of experience in the jewelry business.
Finally, Kevin offered $600,000 in exchange for 20% equity plus $100 royalty for every unit sold until the amount was much recouped. Krish believed that the equity percentage was too high and thus made a counteroffer for the same amount in exchange for 10% of the business. However, Kevin instantly refused the offer.
Daniel, who had initially backed out, surprised everyone by offering $600,000 in exchange for 15% equity. Krish asked him to lower the equity to 12% for the same investment amount. While Krish and Daniel were negotiating a deal, Kevil pulled out. Now the only option Krish had left was to go with Daniel’s deal. Thus, he had to accept Daniel’s offer.
Final Deal: A deal of $600,000 in exchange for 15% equity was finalized between Do Amore and Daniel.
Do Amore is still in business and doing pretty well. Their products are sold exclusively on their website.
Our Review of Do Amore
Based in the United States and founded by mechanical engineer Krish Himmatramka, Do Amore is a unique luxury jewelry retail business launched as part of a social welfare project. Its initial primary focus was to sell handcrafted wedding and engagement rings, with a promise to the customers that all profits earned would go towards constructing water wells in developing countries.
However, they have recently expanded their product line and are now making other statement pieces like earrings and necklaces. The brands’ claims of producing ethical jewelry while leaving a meaningful impact on society have gained traction from a large customer base. Do Amore sources its gemstones from responsible, conflict-free mines, refusing to do business with the ones where workers are over-exploited and underpaid.
Furthermore, Do Amore endorses lab-produced diamonds and sustainable jewelry by recycling precious metals, including gold, palladium, platinum, and gemstones. For their jewelry boxes, they use Jarrah wood –the world’s most eco-friendly wood.
This innovative business model has allowed people to enjoy important milestones in life while helping alleviate the growing water crises to make clean water accessible to many. The brand’s website features a massive collection of unique jewelry pieces.
Pros of Do Amore
- The company sources all raw materials from ethical and environmentally-friendly mines.
- They have made engagement rings more meaningful.
- They also allow you to track the project your ring helped fund.
- They have a 30-day return policy, no questions asked.
- Apart from wedding and engagement rings, they have branched into more jewelry items.
- All jewelry items are carefully handcrafted.
- They also use recycled precious metals.
- Their diamonds are sourced from Botswana, Namibia, Canada, and South Africa.
- Their jewelry boxes are made from the world’s most eco-friendly wood.
- The sale of two rings equals two people with access to clean drinking water.
- They have impacted the lives of thousands of underprivileged communities.
Cons of Do Amore
- They are relatively more expensive than traditional jewelry brands.
- They don’t provide free shipping.
Who Is Do Amore for?
Do Amore is an environmentally friendly jewelry brand that hopes to make a social impact. Initially, the business focused on making engagement rings for soon-to-be-married couples. However, they have added many jewelry items to their product line, such as bracelets, earrings, necklaces, etc. Do Amore is for people looking to purchase jewelry, knowing it will create a social impact.
Are There Any Alternatives?
Owing to Do Amore’s unique mission, we have not found any alternative for this band. However, other jewelry brands that source materials from conflict-free zones include James Allen, Taylor & Heart, etc.
Our Final Thoughts
Do Amore is a luxury jewelry brand aiming to resolve underprivileged areas’ water crises. This admirable cause has given the brand its unique identity. Every aspect of the business is environmentally-responsible –their materials are sourced from conflict-free zones, and all the products are handcrafted. We hope they continue to impact the lives of millions in the long run positively.
