BlueStone Sparks Next Growth Phase with Massive Store Expansion and Manufacturing Push

Jewellery retailer BlueStone is drawing up an ambitious growth strategy by expanding its retail footprint and investing heavily in in-house manufacturing. The Bengaluru-based omnichannel brand believes that increasing physical presence and strengthening production capabilities will help to improve operational efficiency, increase profitability and cater to India's growing demand for branded jewellery.

Revenue growth, robust, boosts confidence.

BlueStone delivered a strong performance in the first quarter of FY27, with operating revenue surging 70% year-on-year to Rs 737 crore, up from Rs 493 crore in the corresponding quarter last year. The company said strong sales in existing stores and increased consumer demand drove the strong performance.

The company also saw a rise of 39% in same-store sales growth (SSSG), showing a healthy customer pull even in stores that have been running for a while, said founder and CEO Gaurav Singh Kushwaha. The strong financial performance has given BlueStone the confidence to pursue aggressive expansion plans.

Improving Physical Presence

Although BlueStone started its operations as an online-first jewellery retailer, it has increasingly forayed into offline retail to give customers a seamless omnichannel shopping experience. The company had 352 stores at the end of the June quarter compared with 340 stores at the end of FY26.

BlueStone now plans to almost double its retail network in the next four years, with a target of 700 to 800 stores across India. The expansion is expected to help the brand penetrate the market in metro cities and emerging markets, consolidating its presence in the organised jewellery sector.

Investment in In-House Manufacturing

BlueStone is also putting more money into its own manufacturing and into opening new stores. The company will be able to control the quality of its products better, reduce its dependence on third-party manufacturers and improve profit margins by making more jewellery in-house.

The strategy is also expected to reduce production lead times, enabling BlueStone to launch new collections more quickly and react faster to changing consumer tastes.

Prioritise Sustainable Growth

The growth of BlueStone comes at a time when the organised jewellery market in India is witnessing rapid growth, driven by rising disposable incomes, growing trust in branded retailers and the popularity of omnichannel shopping.

The company has an aggressive long-term target of Rs 12,000 crore annual revenue with a continued focus on improving customer experience through technology and retail innovation.

With a combination of aggressive new store opening strategy and increased manufacturing capacity, BlueStone aims to become a leading jewellery brand in India and develop a business model designed for sustainable, profitable growth.