BlueStone’s Ad Spend Climbs To Rs 124.23 Crore In FY24

BlueStone has highlighted the critical role of marketing and brand visibility in building connections with its target audience. In its Draft Red Herring Prospectus (DRHP), the company stated, “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 reported advertising and marketing expenditures of Rs 42.4 crore during April-June FY25, representing 12.18 per cent of its revenue from operations. In the preceding fiscal years, the jewellery startup's ad spends amounted to Rs 124.23 crore in FY24, Rs 84.14 crore in FY23 and Rs 42.30 crore in FY22, equivalent to 9.81 per cent, 10.92 per cent and 9.17 per cent of revenue from operations, respectively.

As part of its brand-building initiatives, the company emphasised its focus on increasing awareness of its brand, enhancing product designs and delivering a personalised customer experience through its 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 company noted in its Draft Red Herring Prospectus (DRHP).

The omnichannel jewellery retailer plans to raise Rs 1,000 crore through a fresh issue of equity shares and an Offer for Sale (OFS) of up to 2.398 crore equity shares, according to the DRHP. In September 2024, BlueStone initiated a Rs 900 crore pre-IPO funding round.

Backed by Tata Group Chairman Ratan Tata and Zerodha co-founder Nikhil Kamath, BlueStone also counts Accel India, Saama Capital, Kalaari Capital, and Hero Group’s Sunil Munjal among its investors. These stakeholders are expected to divest a total of 2.4 crore shares in the OFS.