BlueStone opened its first store in Pacific Mall in New Delhi in 2018. The company has announced that it has opened its 100th store in City Centre in Siliguri, West Bengal. Across India, the company is now present in 38 cities majorly across Maharashtra, Karnataka, Uttar Pradesh and New Delhi.
On the occasion and milestone achieved, Gaurav Singh Kushwaha, Chief Executive Officer said “We have come a long way with our establishment in 2011, the strong support and guidance from our initial investors – Accel, Saama as well as other investors like Kalaari, IvyCap, Dragoneer, RB Investments, Iron Pillar. It is indeed a moment of pride for us to open our 100th store. BlueStone had in the past and continues to follow a technology-led approach which has helped us meet changing customer preferences and expectations. We might have started as a digital-first brand but to support our strong presence in the online space and to enhance the jewellery shopping experience, we have expanded our network of retail stores, so the customers can experience the brand and its products seamlessly. The other benefit of physical stores is that we can support faster delivery time for local orders and it supports our “Try at Home” Initiative. In FY21-22, we opened 39 stores, which was the highest number of stores opened by the company in a single financial year. Due to the pandemic, we did see a reduced footfall but did not have any store pull the shutter. In fact, over the past 4 months, we have opened 24 new stores and in the past 2 months, we have opened 17 new stores. It’s interesting to note that most of our customers start their journey on the website and in the last 3 years the traffic has gone up by 269%.”
Additionally states “Most of the functions required for our operations are retained in-house, right from the UI/UX of the website to designing and manufacturing of the jewellery. The 700 + people team is skilled in various functions of engineering, technology, design, production, warehouse, product development, marketing, customer experience, retail, logistics, etc.”
On its 100th store announcement, Harshna Pasari, Head of Marketing stated “Discovery and Purchase Digitally is becoming a native behaviour of the average customer today but ignoring traditional formats of visibility and customer retail touch points would be a mistake. We are living in a world where the Hybrid model is the best business approach and brings better cost efficiencies. Collectively, we reach 19,000+ pin codes now. Our design repertoire targeting mainly young and modern couples is spread across 100 collections and over 8000 designs are what make us stand different from our competitors. The brand has been consistent in launching multiple collections every quarter, and our efforts to sustain the growing recall, brand saliency, and new customer base continue. Starting off as a digital first brand, we have also succeed in gaining good traction and brand recall across digital channels.”