After receiving more than $ 15 million in two rounds of financing since the company was founded in 2011, Internet jewelry merchant BlueStone.com has begun negotiations on obtaining financing worth $ 25 million, double the increase in personnel and increase in turnover three times from the current level of $ 18, 5 million over the next 12 months. In addition to three main investors - Accel Partners, Saama Capital and Kalaari Capital - the company managed to attract Ratan Tata, Indian businessman and chairman of Emeritus of Tata Sons. Electronic commerce in India is gaining momentum.
Gaurav Singh Kushwaha, CEO and founder of Bluestone.com, said: "The company will begin to generate revenue by 2017-2018 despite continuing investments in the development of our business." Our business model does not depend on the products that are located in stock, we create products and deliver them after we receive orders from customers.This is our difference from traditional jewelry stores that store a large quantity of goods.We run two jewelry collections per month and 20 collections per year compared to th with the traditional brands, which create a line of three products for three years. In addition, our collection of 3,500 unique jewelry at least two times more than in physical stores,
At the moment about 50 thousand buyers in India have used the services of BlueStone.com. To improve the user experience, the company opened product demonstration points in Bangalore, Mumbai and Delhi. Also, a home-based fitting service was started, which is used every month by 150-200 customers.
"Usually, buyers who want to buy valuable jewelry, such as bracelets or necklaces, use our fitting service at home, which turned out to be very successful," Kushwaha said. The goal of BlueStone.com is the age group 25-35 years, 95% of all clients are women.