Ratan Tata-backed BlueStone valuation tops $410 mn in latest round

Backed by Ratan Tata, BlueStone, a major omnichannel jewellery store, has raised more than US$ 30 million in funding for a US$ 410 million valuation. Sunil Kant Munjal, Chairman of Hero Enterprise, led the investment round. BlueStone is India's leading omnichannel precious jewellery brand, with a design-driven approach and new monthly collections.

Bluestone intends to expand its manufacturing capabilities with this round of financing. The company expects sales of Rs. 500 crore (US$ 65.45 million) in the fiscal year ending March 2022 (an increase of 85% YoY), with break-even attained. The company aims to generate annual sales of more than Rs. 2,000 crore (US$ 261.82 million) in the next two years. The company is speeding up its statewide shop rollout; its current 70 retail locations in India complement its pioneering digital platform, giving it a strong omnichannel presence. BlueStone expects to open 100 more stores in the coming fiscal year, bringing the total number of locations to 300 by 2024. Ratan Tata, Accel, Kalaari, Iron Pillar, IvyCap, and Saama Capital are among the notable investors who have funded BlueStone.

BlueStone, which was founded in 2011, offers over 8,000 designs and different collections that follow the newest fashion and fine jewellery trends. With its unique omnichannel approach and a strong emphasis on craftsmanship, quality, and customer experience, the firm claims to be transforming the fine jewellery industry.

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