BlueStone.com projects West Bengal as a key market for growth

BlueStone.com projects West Bengal as a key market for growth

-          Order books in the state register a 13X rise over number of orders placed in 2012

-          Unveils two new collections Nava & B-Iconicin Kolkata, ahead of Akshaya Tritiya

Catering to the new age consumer with a wide collection of designs and themes, BlueStone.com, India’s leading online destination for fine jewellery, is witnessing steady growth in traditional markets such as West Bengal. A recently concluded analysis reveals notable facts and insights on the sector from the state. The capital city, Kolkata, recorded a 70% growth in revenue in 2016, over the previous year making it one of the Top 6 markets for BlueStone.com.

Key Highlights

·         Kolkata has beenamong the top 6 markets for BlueStone.com in terms of sales in 2016, while the state of West Bengal stood at #7 in the country

·         Contribution to revenue from West Bengal rose by 70% in 2016

·         The top 5 cities in West Bengal from a revenue perspective are Kolkata, Howrah, 24 Paraganas, Siliguri and Durgapur

·         BlueStone has witnessed a 13X growth in number of orders placed in 2016, compared to 2012

·         Some of the remote locations in the state where BlueStone has delivered orders include Nandigram, Anara and Hasimara

·         Majority of shoppers in West Bengal are women in the age group of 28 – 34 years

·         Some of our most popular products in the state include, The Circa Pendant, The Solo Paisley Pendant, Gold Leaf Earring and Twin Wingflow Ring

BlueStone.com is targeting revenue of ₹1000 crore in early 2019 and is expected to achieve profitability around the same time. 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. Kolkata and West Bengal is expected to achieve strong growth in the eastern region and be a significant contributor to the growth and profitability of the company.

BlueStone.com also unveiled two new jewellery collections today in the city of joy, called the ‘Nava Collection’ and ‘B-Iconic Collection’, ahead of the auspicious occasion of Akshaya Tritiya.

The Nava Collection, is a unique take on traditional Navratna jewellery drawinginspiration from the art and architectural marvels of Hampi, which was once the epicenter of the Vijayanagara Empire in the south. Keeping the Navratna gemstones at its heart, key pieces in the collection have been designed with specific attributions to some of the most popular monuments from the UNESCO World Heritage Site. The Nava Collection will be available from a price point starting at 17,000/- INR and up to 1,09,000/- INR.

The B-Iconic Collection has been designed with the BlueStone logo at the heart of the design of each piece. Through an exhaustive design journey, the logo was adapted into creating a unique “jaali”that has been incorporatedinto each piece of the collection. The collection aims at bringing the brand ethos closer to design, thus creating a unique brand identity, that is reflected throughout this gorgeous collection. The collection will be available from a price point starting at 8,800/- INR and up to 1,01,000/- INR.

Pendants, rings, necklaces and earrings make up for the bulk of the new collections.

Speaking on the occasion, Gaurav Singh Kushwaha, Founder & CEO of BlueStone.com, said, “It is extremely encouraging to witness more number of people trying out new jewellery designs online, each passing year. Kolkata ranked among the top 6 markets in sales in 2016 for BlueStone. We see tremendous growth potential in this region and are delighted to launch our latest collections, Nava and B-Iconic. We will continue to build upon our key strength, which is our unique designs and use technology to provide our consumers with a seamless jewellery shopping experience.”

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.

About BlueStone.com:

Established in 2011, BlueStone.com aims at revolutionizing precious jewellery and lifestyle segment in India with a firm focus on craftsmanship, quality and user experience. The platform features close to6,000 unique designs from a wide collection of themes to suit every occasion and ships to over 20,000 pin codes across the country. These designs are crafted to perfection with utmost care and are available 24/7 with a 30 Day Money Back Policy and Lifetime Exchanges. Shoppers also experience the ease of luxury shopping from the comfort of their home with a unique Try At Home facility available in 18 cities.