BlueStone eyes Rs 1000 crore revenue in FY19, launches two new collections

By

Maverick Martins

Published
Apr 20, 2017

Online jewellery firm BlueStone.com is targeting revenue of Rs 1000 crore in FY19 and expecting to achieve profitability around the same time, said the company CEO. The company has clocked a turnover of Rs 250 crore in FY17, according to a report in the Economic Times.

The BlueStone.com CEO was in Kolkata to launch two new jewellery collections called the ‘Nava Collection’ and ‘B-Iconic Collection’, ahead of the auspicious occasion of Akshaya Tritiya.

"The USP of the company is its design prowess, which allows it to add almost 250 new designs each month. The company has invested heavily on designs, marketing, technology and logistics in order to strengthen its offerings and widen the customer base,” Gaurav Singh Kushwaha, Founder & CEO of BlueStone.com said.

He added that post demonetisation the sales of the company was severely affected but from mid March there has been a recovery. "We are expecting good demand this Akshaya Tritiya as there is huge pent up demand in the market," Kushwaha said.

The jewellery market is currently valued at about $ 60 billion and is expected to cross the $ 100 billion mark in the next 4 to 5 years.

The contribution of online however is only 0.2 to 0.3% at present and is expected to reach 1 to 2% in the next 4 to 5 years, which is a significant growth, considering the present size of the sector.