IPO-bound BlueStone's ad spends rise to Rs124 crore in FY24
Effective marketing is important for future revenue growth enhancing brand visibility, to establish relationships with target markets, the company stated.
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IPO-bound jewellery brand BlueStone has emphasized the significance of marketing and brand visibility to establish relationships with target markets. In its Draft Red Herring Prospectus (DRHP), the company said, "We believe that effective marketing is important for future revenue growth, enhancing our brand visibility, to establish relationships with target markets and to sell our products in a competitive and cost-effective manner".
BlueStone's advertising and marketing spending was Rs 42.4 crore, accounting for 12.18 percent of revenue from operations from April-June FY 2025. In the fiscal year 2024, FY 2023 and FY 2022, the ad spending of the jewellery startup stood at Rs 124.23 crore, Rs 84.14 crore, and Rs 42.30 crore--9.81%, 10.92%, and 9.17% of the revenue from operations, respectively.
Towards brand-building initiatives, the Bengaluru-based online-first jeweller has said it will be focusing on building awareness of the jewellery brand which in turn will feed into its designs, product, and personalised customer experience through omnichannel model. "We believe that brand experience is also driven by the experience that customers have when interacting with our products online and offline with our sales personnel. We are currently investing in training for our sales personnel in sales techniques and product knowledge. We intend to continue to invest in customer service and technology such that customers can directly reach out to our store staff who have access to relevant information to resolve customer queries," the DRHP mentioned.
The omnichannel jewellery retailer has proposed to raise funds through a fresh issue of equity shares aggregating up to Rs 1,000 crore and an offer for sale (OFS) of up to 2.398 crore equity shares as per the DRHP.
In September 2024, Bluestone launched a pre-IPO funding round worth Rs 900 crore.
BlueStone Jewellery is backed by Tata Group Chairman Ratan Tata and brokerage platform Zerodha's co-founder Nikhil Kamath. It is also backed by Accel India, Saama Capital, Kalaari Capital, and Hero Group's Sunil Munjal, who are looking to divest 2.4 crore shares.
