I built a billion dollar publicly-traded retail company in Asia in 7 years. I was also the CFO of One Laptop per Child, one of the largest social entrepreneurship ventures in the world. Author: Billion Dollar Company: An entrepreneur's guide to business models for high growth companies. I have done 15+ joint ventures, licenses and partnerships in both Asia and Latin America. I teach at Florida International University and have taught at MIT Sloan School. Speak Spanish.
I think the business has potential given popularity of jewelry and subscription models. I would want to see confirmation of the subscription price by examining other companies to validate the price point and then test through surveys, etc before committing capital. Somewhat concerned that customer has to return 3 pieces of the monthly six. That is Real friction that I would try to avoid. Also do not believe using small craftsman to produce jewelry will allow scaling. I think eventually company needs factories to support demand and should switch to licensing designs from small craftsmen.