Gaurav Kushwaha, the founder and CEO of BlueStone Jewellery, which is backed by business magnate Ratan Tata and Nikhil Kamath, the co-founder of Zerodha. As per recent reports, the company plans to raise approximately Rs 2,000 crore through an initial public offering (IPO). This move could potentially disrupt the jewellery market by positioning itself as a major competitor, competing with listed giants such as Titan's Tanishq brand, Kalyan Jewellers, and the recently public Senco Gold. At its last valuation, BlueStone Jewellery was worth over Rs 3650 crore, or $440 million.
In addition to founding his first website in 2006 at the age of 27, Gaurav Kushwaha also worked for Amazon for more than four years prior to starting BlueStone Jewellery in 2011. The Bengaluru-based company is fortunate to have secured the coveted personal investment of renowned Indian businessman Ratan Tata. His wife had asked him to get a picture with Ratan Tata when he first met him in Mumbai, and it was Ratan Tata who initiated the conversation with Kushwaha. He wanted an investment from Tata.
He stated that Ratan Tata gave him only one piece of advice: focus on creating value for customers, and always strive to build something extraordinary in terms of product, service, and culture. He mentioned that Ratan Tata was interested in the online aspect of the company and that if these issues are resolved, clients will come to trust and relate to the business. Reportedly, Bluestone received an investment of Rs 100 crore from Nikhil Kamath, a co-founder of Zerodha, last year.
In addition to other cities, BlueStone has manufacturing hubs in Mumbai and Jaipur. After receiving ₹550 crore in investments from a variety of new and established investors, including Nikhil Kamath, Ranjan Pai, Amit Jain, Deepinder Goyal, and 360 One, BlueStone was able to reach a net valuation of approximately $440 million last year.
