BlueStone said some of the reported impact on profit after tax (PAT) came from non-cash items, including lease costs and ESOP charges.
Backed by funding from marquee investors such as top global VC firm Accel, Nikhil Kamath, InfoEdge Ventures, Kalaari Capital and Hero Enterprises, it does so through its app and website while also providing offline experiences at stores
Gaurav Singh Kushwaha, Co-founder and CEO of jewelry brand Bluestone, emphasised the changing preferences, particularly among the new generation, who are increasingly valuing uniqueness over traditional price sensitivity.
The Rs 100 crore funding is led by Accel Partners, IVY Capital and Dragoneer, with participation from Kalaari Capital and Saama Capital, BlueStone.com said in a statement. Avendus Capital was brought in as advisor for this transaction, it added.
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