Jewellery retailer Bluestone plans to increase its revenue fivefold to ₹12,000 crore by fiscal year 2030, driven by growing affluent households and a shift in luxury spending towards everyday jewellery, according to livemint.com. The company is also transforming its franchise-owned stores into company-owned outlets while exploring new franchise stores in smaller towns.
Bluestone's strategy involves converting its existing network of franchise-owned stores into company ownership to strengthen control over operations and brand experience. Simultaneously, the company is considering expanding into smaller towns through franchise partnerships to tap into emerging markets. CEO Gaurav Singh Kushwaha and CFO Rumit Dugar are leading these initiatives as part of the company's growth roadmap.
The move reflects broader market trends where rising affluence in India is boosting demand for personal luxury items, particularly jewellery for everyday use. Bluestone's target revenue of ₹12,000 crore by FY30 positions it as a significant player in the jewellery retail sector, competing with established brands like Titan and CaratLane. The company's dual approach of company-owned and franchise stores aims to balance brand control with rapid geographic expansion.
Bluestone's revenue growth target and store conversion plans mark a strategic push to capitalize on changing consumer preferences and market dynamics. The company’s next milestone will be tracking progress against its FY30 revenue goal of ₹12,000 crore, as noted by livemint.com.