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Bluestone.com, the Ratan Tata-based online jewellery firm, says the company was expecting its revenue to go up to Rs 100 crore this year, from Rs 25 crore last year.
It is also contemplating whether to set up offline stores to improve the brand value, Gaurav Singh Kushwaha, founder and chief executive, said. The company is also looking at setting up physical retail stores, starting with major cities, though this hasn’t been finalised. The idea is to improve the brand perception among customers. Kushwaha said existing or older customers might not opt for an online store to purchase jewellery, though the younger generation would. The company has its own facility to produce jewellery and also gives customers the option to track the status of manufacture of the piece they ordered online.
The announcement of Ratan Tata, chairman emeritus of Tata Sons, investing in the online jewellery store came out in September. This was soon after he’d also invested in Snapdeal.com, the e-commerce major. Kushwaha wouldn’t disclose what Tata had invested or the percentage of shares he held in the company. The company website started in April 2012. It has jewellery for women and men, gifts and gold coins offered through its online portal.
The latter is a part of BlueStone Jewellery and Lifestyle. Earlier, Accel Partners and Kalaari Capital had invested in the company.
