CATEGORY:- Prominent size jewellery Ecommerce B2C website / online buying Ornaments
Industry : Online jewellery store
STARTED ON: August 2011
FOUNDER : Gaurav Singh Kushwaha TAG LINE : choice for affordable jewellery with innovative designs with the help of Inter-Net
Online jewellery market :- $50 million - $100 million.
India is home to about 93 online jewellery start-ups. Out of them, eight have together raised about $107 million from investors.
The domestic gems and jewellery market in India was worth Rs.251,000 crore in 2013 and is expected to cross the Rs.500,000 crore mark by 2018.
FY2016 :- Rs 250 crore
FY2018:- Rs 1,000 crore
Domestic/ National-95%
International- 5%
Delhi-NCR, Bangalore, Mumbai, Hyderabad and Chennai :- 60% of Revenue
It started in 2012 and had break even in 2014-15
Average selling price of transactions: 20000 Rs.
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GROWTH:******************************************************************************* It Claims to have grown by 150 percent year-on-year.
2016- 5,000 designs across 14 categories.
******************************************************************************* TARGET POPULATION: ******************************************************************************* Targets the 25-35 age profile of which 95 per cent are women.
******************************************************************************* MOBILE App ******************************************************************************* Traffic deom mobile:- 70%
Revnue:- 40-45%
over 4,000 handcrafted designs.
Average ticket size ranges between Rs 22,000-24,000.
Biggest Single order:- Rs 8 lakh.
Bluestone.com sells earrings, pendants, rings, bangles, etc. and has a collection of about 2,000 designs
It started with IDEA like to sell everyday jewellery, which people generally gift one another and which is somewhere between a planned and an impulse purchase.
MARKET POTENTIAL:- 2016:- The size of the Indian jewellery market is about $60 billion.
2020-21 :- USD 100-110 billion.
2016:- 0.5% Online 99.5% Offline
2020:- 2% Online , 98% Offline
4 International destinations - The US, the UK, Canada and Australia.
large number of orders from small towns.
30-35 percent of its business comes from beyond top 20 cities of India.
******************************************************************************* OBSTACLES: ******************************************************************************* Jewellery was a tough category with high entry barriers with a clear need gap of established and trusted national players. Traditionally, customers have gone to the established names for ages. The challenge was to change this and introduce a new way of buying jewellery.
The biggest challenge is gaining customers’ trust.
E-commerce sector. With new players emerging almost every day in this segment, the competition is fierce and businesses are forced to innovate and improve constantly.
We aim to be the leading online jeweller in the next.
Firm wants to expand its international presence.
Today lot of women want to buy jewellery they like rather than what their mothers passed on 30,000 unique designs in the next 2 years.”
After making his first investment in Indian eCommerce space through Snapdeal, Ratan Tata has now made his second investment in India eCommerce. Ratan Tata has personally invested undisclosed amount in Indian e-jewellery company BlueStone Jewellery and Lifestyle Pvt. Ltd.
BlueStone has been funded by Saama Capital, Accel Partners and Meena Ganesh.
received Rs 20 crore in funding in August 2011 from venture capital firm Accel Partners and Meena Ganesh, CEO and Managing Director of Pearson Education Services.
$5 million from Accel Partners in Jan 2012 and $10 million in March earlier this year from Kalaari Capital.
Raised Rs 100 crore funding in July 2015, has investors like Accel Partners, IVY Capital, Dragoneer, Kalaari Capital and Saama Capital.
Sold items are bought back or exchanged by the company at 80 per cent of the day’s market price, under a lifetime exchange policy.
launched International Shipping.
30 Days Moneyback Policy.
Home try-on (out of 150-200 customers a month and conversions as high as 70 per cent.)
Over 4,000 handcrafted designs.
company opened experience/display centres in Bengaluru, Mumbai and Delhi.
Shopping Assistant Tool where you can shop by personality, face shape, etc.
second firm in the world to use 3-D rendering to photograph jewellery pieces to replicate the touch and feel aspect of offline jewellery shopping.
diverse collections catering to all religions, regions, cultures and occasions.
BlueStone used its various social media platforms effectively to increase its brand awareness and engagement.
launch 2 jewellery collections a month and 20 collections a year compared to large offline players that launch 3 collections over 3 years.
The company has its own factory in Mumbai.
Orders:- 7,000 orders in a month and hope to achieve a 50-70% year-on-year growth.
Release 250-300 new designs every month.
Bluestone has about 6,000 designs in close to 20 categories
Bluestone has competition in e-jewellery business from likes of Caratlane.com who have till now raised around USD27 million in 3 rounds. Last year, they received funding to the tune of $15 million from Tiger Global.
Bluestone is expected to have a turnover of around Rs. 60 crore in 2015. In comparison, their competitor Caratlane leads the market which is expected to around Rs. 150 crore.
Unmatched collection of certified jewellery.
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