Bluestone stays resilient despite a turbulent quarter for India's jewellery sector
Bengaluru, July 21 -- Despite a slowdown in India's jewellery industry during the April-June quarter, Bluestone Jewellery and Lifestyle Ltd stayed resilient, buoyed by its focus on everyday, design-led jewellery and a growing base of repeat customers.
Unlike investment-led gold buyers, Bluestone's customers typically come with a fixed budget and continue to buy within that price range even when gold prices rise, said Gaurav Singh Kushwaha, founder and chief executive, during the company's June-quarter earnings call on Tuesday.
The Bengaluru-based jewellery retailer added 12 stores during the quarter, taking its network to 352 stores across 139 cities, even as rising gold prices affected its entry-level price band and slowed new customer...
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