Bluestone Jewellery

By Praveen Paramasivam

July 13 (Reuters) - Jewellery chain BlueStone BLUT.NS plans to more than double its store network and nearly double its retail workforce by fiscal 2030, with most new outlets set to open on India's high streets as premium mall space remains limited, its CEO said.

India has about 110 million square feet of Grade A mall stock, compared with more than 400 million in China and over 700 million in the United States, data from property consultancy Anarock showed, underscoring the shortage that is pushing retailers towards high streets.

"We are fairly saturated," BlueStone Jewellery and Lifestyle CEO Gaurav Singh Kushwaha told Reuters, adding that the company was already present in about 90% of India's "quality malls" and three-fourths of future stores would be on high streets.

The Prosus-backed jewellery retailer, which sells products including rings, earrings, necklaces and bangles, aims to raise its store count to 705 from 340 and increase revenue to 120 billion rupees ($1.25 billion) by fiscal 2030 from 23.42 billion rupees in fiscal 2026. It also plans to expand its retail workforce to 4,000 from about 2,100.

Kushwaha said there were not enough malls in India, while citing Tata Group's Tanishq, which has more than 500 stores, as evidence jewellers could expand on high streets, unlike fashion and luxury brands that rely on mall footfall.

Brands, including WestBridge Capital-backed Wooden Street and Asics 7936.T, have also pointed to a shortage of premium retail space, particularly in major cities where mall supply has lagged demand.

BlueStone, like peers Kalyan Jewellers KALN.NS and Titan TITN.NS, is pressing ahead with its expansion despite volatile gold prices, which have made some smaller jewellers more cautious about opening stores.

"I hope it stays range-bound, doesn't go up, doesn't go down much," Kushwaha said. "That's the best environment to do business."

($1 = 95.7675 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Dhanya Skariachan and Subhranshu Sahu)

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** Shares of India's Bluestone Jewellery and Lifestyle BLUT.NS up 6.36% at 540.55 rupees

** BLUT at its analyst meet on Wednesday said it is targeting about 50% revenue CAGR through FY30, driven by same-store sales growth and store expansion

** Brokerage Emkay says about half of BLUT's stores are less than three years old, providing a significant runway for growth as stores mature

** Adds strong same-store sales growth in older store cohorts and operating leverage from advertising should support margin expansion

** Emkay says current valuations remain attractive, provided the company continues to execute on its growth plans

** BLUT rated "strong buy" on avg by 5 analysts; median PT at 653 rupees

** YTD stock up ~14%

(Reporting by Devika Nair in Bengaluru)

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** Indian gems and jewellery stocks fall 5.5%-11% after PM Narendra Modi urges people to avoid buying gold to save foreign exchange

** PM's comments come after Donald Trump rejected Iran's response to peace proposal on Sunday, pushing oil prices higher

** Kalyan Jewellers KALN.NS drops ~10% to 382.10 rupees; Titan TITN.NS falls as much as 7.95% to 4,150.10 rupees; Senco Gold SENC.NS sheds ~11% to 325.05 rupees

** Bluestone BLUT.NS, PC Jeweller PCJE.NS fall more than 5% each

** Gold XAU=, traditional safe-haven asset, falls as oil rallied on stalled U.S.–Iran talks

** Broader stock market under pressure; benchmark Nifty .NSEI down ~1.2%

(Reporting by Bipasha Dey in Bengaluru)

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** Shares of India's Bluestone Jewellery and Lifestyle BLUT.NS rise as much as 6.66%

** Stock last up 1% at 552.55 rupees

** BLUT posted a Q4 profit of 320.3 million rupees ($3.40 million) vs loss of 511.1 million rupees a year earlier

** Trading vols at 4.7 million shares, about 10x the 30 day avg of 474,023 shares

** YTD stock up 16.20%

($1 = 94.2600 Indian rupees)

(Reporting by Devika Nair in Bengaluru)

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April 23 (Reuters) - Bluestone Jewellery and Lifestyle Ltd BLUT.NS:

• BLUESTONE JEWELLERY AND LIFESTYLE MARCH-QUARTER CONSOL NET PROFIT 320.3 MILLION RUPEES

• BLUESTONE JEWELLERY AND LIFESTYLE MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 6.81 BILLION RUPEES

Further company coverage: BLUT.NS

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** Indian gems and jewellery stocks fall between 1.45% and 4.75%

** Donald Trump launches unfair trade practice probes into 16 key trading partners, including India, to restore tariffs recently struck down by Supreme Court as illegal

** Indian gems and jewellery companies have higher exposure to U.S. markets

** Kalyan Jewellers KALN.NS, PC Jeweller PCJE.NS and Tribhovandas Bhimji Zaveri TBZL.NS fall 1.5% to 2.11%

** Thangamayil Jewellery THNG.NS and Rajesh Exports REXP.NS lose the most - down 4.75% and 4.6%, respectively

** Bluestone BLUT.NS and Titan TITN.NS shed 2.7 and 2.5%, respectively

** BLUT and THNG only stocks among pack to post YTD gains

(Reporting by Urvi Dugar in Bengaluru)

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Jan 22 (Reuters) - Bluestone Jewellery and Lifestyle Ltd BLUT.NS:

• DEC-QUARTER CONSOL NET PROFIT 690.8 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 7.49 BILLION RUPEES

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Further company coverage: BLUT.NS

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** India's Bluestone Jewellery and Lifestyle BLUT.NS climbs 2.8% in trading debut, valuing the company at 80.32 billion rupees ($920.4 million)

** Stock opened at 510 rupees on National Stock Exchange of India in pre-open trade, down 1.4% from its issue price of 517 rupees

** Benchmark Nifty 50 .NSEI trading flat on the day

** Jeweller's 15.41 billion rupees IPO was fully subscribed on final day of bids, with demand led by qualified institutional buyers

** IPO comprised fresh issue worth 8.2 billion rupees, while existing shareholders sold shares worth 7.21 billion rupees - prospectus

($1 = 87.2630 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru)

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