Bluestone made news when the chairman emeritus of Tata Sons Ltd., Ratan Tata made a strategic investment in the Bengaluru-based company. From designing and manufacturing in-house, to offering Home Try-On service and a Lifetime Exchange Policy, Bluestone is known to provide industry first offers to its customers.
Jewellery is majorly bought after touching, feeling and experiencing the metal types, weight, colour etc. How does BlueStone provide that experience to the buyers?
We understand the concerns of a first-time online jewellery shopper and our Home Try-On service is designed to help address them. To experience our jewellery for real, all a customer has to do is book an appointment for our Home Try-on service. One of our jewellery experts will get in touch with them and visit them so they can try our jewellery at their time and place of convenience. Further, if an individual is not happy with the purchase, he/ she is entitled for a full refund within 30 days of purchase.
We believe in lifelong relations, and hence offer a Lifetime Exchange Policy on all purchases made within India. We do not charge a customer anything towards return shipping for any returns or exchanges.
Gifting forms a big part of your business, talk to us about the options available for gifting on the website.
BlueStone offers a wide variety of gifting options for every occasion, big or small. We have over 3000 unique designs for a customer to choose from. Our wide range of solitaires, rings, earrings, pendants, bangles, bracelets, tanmaniyas and nosepins have been designed to suit every mood, budget and occasion.
Be it a birthday, graduation ceremony, proposal or marriage anniversary, we ensure that a customer’s perfect piece is somewhere there for sure!
How do you manage the logistics of the online space?
We have tied up with reputed courier companies like Bluedart and Ecom express. These companies have secure logistics channels specifically for high value goods. Apart from this, all our goods are insured and are packed in a temper proof packaging. We also are developing our own delivery team. Right now this team is present in 10 cities and we plan to grow it to 25 cities in next 6 months.
What is the USP of your brand and how is it different from the other jewellery brands in the marketplace?
At BlueStone, we design and manufacture in-house which lets us be in control of the quality and design sensibility of each and every piece that goes online. Unlike traditional retailers, we also make sure that the customers are completely sure about the product detail to its last gram before making a purchase.
We house more than 3000 unique designs for an individual to choose from. These designs are crafted to perfection with utmost care for our customers who also have the flexibility to customise the product’s gold colour or diamond clarity to suit their needs. With an in-house award-winning design team that pays great attention to detail, each piece is a symbol of perfection. Also, with its cutting edge innovation and latest technology usage, BlueStone makes sure the brilliance is well reflected in all its jewellery.
The company also offers some of the industry first options to its customers. Right from the 30-Day Money Back Policy, Certified Jewellery and Lifetime Exchange on all its products, BlueStone offers its customers the comfort of experiencing luxury shopping from the comforts of their home with the special Home Try-On Service.
Do you plan to open up an offline space soon?
We are evaluating different models in offline space. We right now have guide stores and home trial facilities in many cities right now. We are also exploring different locations/store sizes and formats that may suit our low inventory business model.
Talk about the price-points of diamonds and how large is percentage shared by solitaires. In addition, where is the market inclined today, into small diamonds or solitaires?
Of the total Diamond market, Solitaires form a small yet fast growing segment. Although starting prices point for solitaires could be as low as 15 thousand, average ticket size of the segment is 10 times. In smaller diamonds, the jewellery starts from as low as 2 thousand and again average ticket size is 10 times this value.
Talk about company's financials.
We are currently at an annual revenue run rate of more than 120 crores, most of which comes from diamond jewellery.