BlueStone seeks investment worth around $25 million

Leading online jewellery portal BlueStone.com plans to materialise its expansion plans with an investment of around $25 million, reports say. For this the company has already initiated talks, reports add. The funds will be towards doubling headcount of 200 to 400 and triple current turnover of Rs 100 crores, within 12 months.

The company’s work force comprises 980 percent from the gem and jewellery sector and 20 percent from the e-commerce segment, as reports add. Design is a key element in the company’s jewellery portfolio.

Currently, the company manufactures jewellery and retails only through its online portal. It prides in introducing 2 new collections every month and a portfolio of 3,500, which both surpass the offline stores. BlueStone is looking at increasing the number of design options to around 30,000 within the next two years, reports say.

BlueStone has raised over $15 million in investment in the past, with three key names - Accel Partners, Saama Capital and Kalaari Capital along with industrialist Ratan Tata and serial entrepreneur Ganesh Krishnan.

The company incepted in 2011 is hoping to reach profitability by 2017-2018.