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Launch · Commerce & Consumer Brands

BlueStone plans to double store count by 2030

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Date
Company
BlueStone
What it does
Online jewellery retailer
Kind
Launch
Sector
Commerce & Consumer Brands

What they do

BlueStone sells rings, earrings, necklaces and bangles online and in stores

What happened

It plans to expand from 340 to 705 stores and hire 4,000 staff by FY30, targeting ₹12,000 crore revenue. 75% of new stores will be on high streets because…

The details

  • BlueStone plans to expand its retail footprint from 340 stores to 705 stores by FY30.
  • It aims to increase its retail workforce from 2,100 to 4,000 employees by FY30.
  • The company targets ₹12,000 crore in revenue by FY30, up from ₹2,342 crore in FY26.
  • 75% of future stores will open on high streets due to a shortage of mall space.
  • CEO Gaurav Singh Kushwaha said the company is 'fairly saturated' in malls.
  • BlueStone is already present in about 90% of India's quality malls.
  • The expansion comes despite volatile gold prices; smaller jewellers are cautious.

The bigger picture

  • India has only 110 million sq ft of Grade A mall space, compared to 400 million in China and 700 million in the US.
  • Only three luxury malls exist in India: two in Delhi (DLF) and one in Mumbai (Reliance).
  • Other retailers like Wooden Street and Asics have also cited mall shortage.
  • Tanishq, a competitor, has over 500 stores, showing jewellers can thrive on high streets.

About the business

  • BlueStone sells rings, earrings, necklaces and bangles.
  • It operates both online and through physical stores.
  • The company is backed by Prosus.
  • Its peers include Kalyan Jewellers and Titan (Tanishq).
  • India's luxury market was estimated at $12.1 billion in 2025.

What happens next

  • Open 75% of new stores on high streets.
  • Hire 1,900 more retail staff by FY30.
  • Achieve ₹12,000 crore revenue by FY30.

Investors

  • Prosus (existing) — Prosus is a global investment group that backs BlueStone.

Founders

  • Gaurav Singh Kushwaha, CEO

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