BlueStone

What BlueStone does

BlueStone is an India-based fine jewellery retailer operating a digital-first omnichannel model that combines the bluestone.com e-commerce platform with 340+ company-owned physical retail stores spread across 125-140 cities. Founded in 2011 in Bengaluru by Gaurav Singh Kushwaha (a former Amazon India employee) and incubated by GrowthStory, BlueStone offers certified gold (18k, 22k, 24k), diamond, platinum, and gemstone jewellery across rings, earrings, pendants, necklaces, bangles, bracelets, chains, mangalsutras, solitaires, gold coins, and specialised men's, kids', and watch-accessories collections — totalling 7,000+ designs across 100+ collections backed by BIS Hallmark, SGL, IGI, and GSI certifications.

The company runs a build-to-order digital design and manufacturing capability, paired with omnichannel infrastructure that allows customers to browse online, consult via video call, customise, and either have product shipped or collect in store. Customer-facing technology includes the Video Call Cart, a mobile app, Old Gold Exchange with a 1% benefit over market gold rate, and the 10+1 Monthly Plan (Gold Mine/Gold Reserve) systematic gold savings programme; supporting policies include Lifetime Exchange, Buyback, and 30-day returns.

Commercially, BlueStone generates revenue through one-time unit-priced jewellery sales (per-transaction, no subscription), with making-charge markups ranging from 5% to 70% off depending on product. FY26 revenue was approximately Rs 2,436-2,486 crore (38% YoY growth from Rs 1,770 crore in FY25), the company achieved its first full-year PAT profit of Rs 26 crore in FY26, and it is publicly listed on BSE and NSE (BLUESTONE) following an August 2025 IPO that raised approximately Rs 1,540.65 crore. BlueStone's stated ambition is to reach Rs 12,000 crore in revenue and 705-706 stores by FY30, supported by capital from investors including Accel, Kalaari Capital, Hero Enterprise, Peak XV Partners, Prosus Ventures, Steadview Capital, Info Edge, and several high-profile angels (Nikhil Kamath, Ranjan Pai, Deepinder Goyal).

Name

BlueStone

Legal name

BlueStone Jewellery & Lifestyle Limited

Website

https://bluestone.com

Company type

Public

Founded year

2011

Operating status

Ipo

Headcount range

1,001–5,000 employees

Short description

BlueStone is an India-based digital-first omnichannel fine jewellery retailer (gold, diamond, platinum, gemstone) operating 340+ stores across 125-140 cities plus bluestone.com, serving individual consumers for weddings, gifting, and everyday wear, and publicly listed on NSE/BSE since August 2025.

Ownership category

akta.pro rank

Product category

Fine Jewellery Retail

NAICS

Jewelry Retailers (458310)

SIC

Retail-Jewelry Stores (5944), Jewelry, Precious Metal (3911)

akta.pro primary industry

Precious Metal Jewelry (Gold/Platinum/Silver) (CRAKAAAD)

akta.pro secondary industries

Diamond Jewelry (CRAKAAAA), Colored Gemstone Jewelry (CRAKAAAB)

Keywords

• Fine jewellery retail
• Gold and diamond jewellery
• Omnichannel jewellery shopping
• Certified gemstone jewellery
• Build-to-order jewellery

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain

Revenue model

1. Jewelry Product Sales: BlueStone generates revenue primarily through the sale of gold, diamond, platinum, and gemstone jewelry. Revenue comes from the base metal/gemstone cost plus making charges (margins). The company operates on a per-transaction model with individual purchases rather than subscription.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

BlueStone is a digital-first omnichannel fine jewellery retailer that designs, manufactures (build-to-order), and sells certified gold, diamond, platinum, and gemstone jewellery through its own e-commerce platform, mobile app, and 340+ physical retail stores across India. The company's core offerings include rings, earrings, pendants, necklaces, bangles, bracelets, chains, solitaires, gold coins, and specialised collections for men, kids, and watch accessories, supported by BIS Hallmark/IGI/GSI certifications and complementary programmes such as the 10+1 Monthly Plan and Old Gold Exchange.

Product overview

BlueStone is a digital-first omnichannel jewellery retailer that operates both an e-commerce platform (bluestone.com) and a network of physical retail stores across India. The company offers a comprehensive portfolio of fine jewellery across multiple categories including gold jewellery (plain gold and diamond-set), platinum jewellery, solitaire/diamond jewellery, gemstone jewellery, gold coins (24K and 22K), alongside specialised collections for men, kids, and watch accessories. The platform provides a build-to-order model with over 7,000 certified designs across 100+ collections, integrating online browsing with in-store purchasing through its omnichannel approach. Additional services include the 10+1 Monthly Plan (Gold Mine and Gold Reserve) systematic savings programme, Old Gold Exchange for jewellery upgrades, and Video Call Cart for virtual consultations.

Differentiator

Problem solved

Functional benefit

Products and services

• Gold Jewellery Gold jewellery offerings including rings, earrings, pendants, necklaces, bangles, bracelets, chains, and mangalsutras available in 18k, 22k, and 24k purity, targeted at individual consumers for daily wear, gifting, weddings, and special occasions.
• Diamond Jewellery Diamond-set jewellery including rings, earrings, pendants, bangles, bracelets, necklaces, and mangalsutras with certified diamonds, targeted at consumers seeking certified diamond jewellery for self-expression, gifting, and bridal purchases.
• Platinum Jewellery Platinum jewellery including rings, earrings, pendants, and chains in 95% purity, targeted at consumers seeking premium platinum pieces for everyday wear and special occasions.
• Solitaires Preset solitaire rings, earrings, and pendants with certified diamonds, plus a build-your-own diamond customisation option, targeted at consumers purchasing high-value solitaire jewellery including engagement rings.
• Gemstone Jewellery Gemstone jewellery featuring rings, earrings, pendants, and necklaces with ruby, sapphire, emerald, and other precious stones, targeted at consumers seeking coloured gemstone pieces.
• Gold Coins 24K (995 purity) and 22K (916 purity) gold coins available in denominations from 0.5 gram to 50 gram, targeted at consumers purchasing gold for investment, gifting, and auspicious occasions such as Akshaya Tritiya.
• Men's Jewellery Men's jewellery collection including rings, earrings, kadas, bracelets, chains, pendants, and cufflinks, targeted at male consumers seeking fine jewellery for daily wear and gifting.
• Kids' Jewellery Children's jewellery including earrings, pendants, necklaces, bracelets, and nazariya pieces, targeted at parents purchasing lightweight jewellery for children.
• Watch Accessories Watch jewellery accessories including charms, bands, and pins to accessorise watches, targeted at watch owners seeking complementary jewellery pieces.
• Charms Charm jewellery pieces that are multiwearable across different jewellery items, available in gold and diamond options, targeted at consumers seeking versatile and stackable jewellery.
• Brooch Brooch jewellery pieces in gold and rose gold with diamond, gemstone, and pearl options, targeted at consumers seeking statement accessories.
• Nose Screws and Pins Nose jewellery including screws and pins available in various styles with diamond and gemstone options, targeted at consumers seeking nose jewellery for everyday and bridal wear.
• 10+1 Monthly Plan (Gold Mine / Gold Reserve) Systematic gold savings plans (Gold Mine and Gold Reserve) allowing customers to accumulate gold over time through monthly instalments, targeted at consumers seeking disciplined gold savings.
• Old Gold Exchange Gold exchange programme enabling customers to exchange old gold jewellery for new purchases, with benefit over current market gold rate (Big Gold Upgrade programme paying 1% over the prevailing market gold rate), targeted at consumers upgrading their existing gold jewellery.

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• EtheraminorStrategic or Co-development Partner · 11 February 2026Lab-grown diamond jewelry startup in which BlueStone invested Rs 25 crore to support retail expansion and omnichannel operations. BlueStone doubled its earlier investment in the company.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Tanishq (Titan Company): Tanishq is India's largest organized jewelry retailer, operated by Titan Company (Tata Group). It directly competes with BlueStone across gold, diamond, and bridal jewelry categories, with a much larger store network and brand legacy. Tanishq represents BlueStone's primary organized-sector competitor.
• Malabar Gold & Diamonds: Malabar Gold & Diamonds is one of the largest jewelry chains in India with a strong presence in South India and the Middle East. It competes directly with BlueStone across gold and diamond categories and is comparable in scale, omnichannel ambitions, and pan-India expansion strategy.
• Kalyan Jewellers: Kalyan Jewellers is a major Indian jewelry chain with a pan-India and international presence. It is publicly listed in India, competes directly with BlueStone in gold, diamond, and bridal jewelry, and has a comparable omnichannel strategy including an online vertical (Candere).
• Joyalukkas: Joyalukkas is a major Indian jewelry chain with extensive presence in India and the Middle East. It competes directly with BlueStone in gold and diamond jewelry and is comparable in store-based retail scale, though less digital-first in its positioning.
• Senco Gold and Diamonds: Senco Gold is a leading Indian jewelry retailer with strong presence in East India and growing pan-India ambitions. It is publicly listed and competes with BlueStone across gold, diamond, and bridal categories with a similar omnichannel push.
• CaratLane (Titan subsidiary): CaratLane is Titan Company's online-first jewelry brand and the most direct digital competitor to BlueStone. It targets a similar millennial, omnichannel-oriented customer with a comparable product range in gold, diamond, and solitaires, and benefits from Titan's supply chain and brand backing.
• Tribhovandas Bhimji Zaveri (TBZ): TBZ is a heritage Indian jewelry retailer with a 150+ year history and pan-India presence. It competes with BlueStone in traditional gold and diamond jewelry, particularly for bridal and high-value occasion purchases, though with a more traditional store-based model.

Broad incumbents

• PC Jeweller: PC Jeweller is a publicly listed Indian jewelry retailer with a pan-India store network. It competes with BlueStone across gold and diamond categories with a more traditional retail focus, and serves as a broad incumbent in the organized jewelry space.
• Reliance Jewels (Reliance Retail): Reliance Jewels is the jewelry retail arm of Reliance Retail (Reliance Industries). It operates as a broader omni-channel jewelry retailer backed by the Reliance ecosystem, competing with BlueStone in gold, diamond, and solitaires, and leveraging Reliance's vast retail distribution.

Emerging players

• Ethera: Ethera is a lab-grown diamond jewelry startup in which BlueStone has invested (Rs 25 crore in 2026). It represents an emerging player in the lab-grown diamond segment that BlueStone is incubating, with potential for synergies in omnichannel distribution and category expansion.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/bluestone_com
• YouTubeyoutube.com/user/Bluestonedotcom
• Facebookfacebook.com/bluestonejewels
• Instagraminstagram.com/bluestone_jewellery
• Pinterestin.pinterest.com/bluestonedotcom
• LinkedInlinkedin.com/company/bluestone-com

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds16 records

Investors22 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BlueStone