BlueStone Listed Investor

India's largest omnichannel precious jewellery brand with a design-led approach, updating fresh collections every month.

A digital first direct-to-consumer (DTC) brand offering contemporary lifestyle diamond, gold, platinum and studded jewellery.

Women, men and couples between the ages of 25 to 45 years who value unique designs, modern styles and have a tendency to discover brands through social media or online channels.

BlueStone gives customers a cohesive journey across channels -- browsing 7,400+ designs online with 360-degree views, getting in-store assistance, and a 'Try at Home' appointment service -- so purchases can be completed online or in person.

BlueStone's Repeat Revenue Ratio -- the share of revenue from returning customers -- climbed to 44.61% in FY2025 from 39.83% in FY2024 and 34.67% in FY2023, ranking the company among the top 3 Indian jewellery retailers on customer repeat rate.

BlueStone retains customers through structured schemes such as the Gold Mine 10+1 savings plan for big purchases and the Big Gold Upgrade old-gold exchange, which credits an extra 1% of gold value, alongside lifetime exchange and buyback options.

BlueStone had 2.65M Facebook, ~713K Instagram and ~161K YouTube followers as of May 2025, plus iOS and Android app store ratings of 4.8 and 4.3 respectively -- engagement the company cites as core to customer trust and repeat purchases.

Online channel via BlueStone's website and mobile applications.

275 stores across 117 cities in 26 states and Union Territories, with coverage of more than 12,600 PIN codes across India.

BlueStone maintains its own manufacturing capabilities rather than operating as a marketplace model, updating fresh collections every month.

Transitioned from a complete online platform to an omni-channel business model with both online and offline stores; opened its first brick-and-mortar store in 2018 at Pacific Mall, New Delhi and has since rapidly expanded its retail presence across the country.

BlueStone is the only major Indian jewellery retailer with in-house manufacturing at scale, producing over 75% of its jewellery itself across facilities in Mumbai, Jaipur and Surat, with an additional Jaipur unit under construction as of March 2025.

A dedicated in-house team of 23 designers (as of March 31, 2025) produces BlueStone's catalog of over 7,400 designs across 91 collections, placing the company among the top 5 Indian jewellery retailers by number of designs listed.

A 42-member in-house technology team (as of March 31, 2025) built BlueStone's own front-end (website, app, point-of-sale) and back-end (order management, CRM, product management) systems, including 3D product rendering -- one of the few Indian jewellery retailers with a fully integrated in-house tech stack.

BlueStone's diamond and gemstone jewellery is graded and certified through partner gemological laboratories -- SGL, IGI, HKD Diamond Laboratories, GIA and GSI -- plus BIS Hallmarking for gold and silver purity, giving customers independently verified authenticity.

BlueStone runs its D2C, B2B and retail-store deliveries on ClickPost's post-purchase logistics platform, which automates shipping-label generation, real-time tracking and failed-delivery resolution through an AI voice agent (ClickPost Parth).

BlueStone procures gold through gold metal loans from leading banks rather than buying it outright, which the company says gives it significantly lower effective interest rates on raw-material financing.

75 of BlueStone's 275 stores (as of March 31, 2025) are franchisee-operated under a capital-only model: franchise partners fund store capex and inventory while BlueStone operates the store and controls its inventory and merchandising, paying partners a minimum guaranteed or revenue-linked return.

Sale of rings, earrings, necklaces, pendants, solitaires, bangles, bracelets and chains in diamond, gold, platinum and studded jewellery across varied price points, via online and offline channels.

BlueStone spent INR 1,234.7 Cr on procurement of raw materials in FY24, an increase of 72% from INR 717.6 Cr in the previous year.

BlueStone's advertisement and marketing spend zoomed to INR 124.2 Cr in FY24 from INR 84.1 Cr in the previous year.

Employee benefit expenses jumped 51.7% to INR 138.4 Cr in FY24 from INR 91.2 Cr in FY23, including INR 95.6 Cr on salaries and wages.