BlueStone Jewellery and Lifestyle reported 45% year-on-year business growth between October 1 and November 8, supported by strong festive demand during Dhanteras and Diwali. The company said growth was mainly driven by an increase in buyers, while average realisations remained unchanged.
New Delhi, November 9 — Jewellery retailer BlueStone Jewellery and Lifestyle reported 45% year-on-year growth in its business during the festive period between October 1 and November 8, 2026, as more consumers purchased jewellery during Dhanteras and Diwali.
The company disclosed the numbers as part of a provisional business update in a regulatory filing on Monday. The period represents the quarter-to-date performance for Q3 FY27.
More buyers drive growth
BlueStone said the increase was largely buyer transaction-led, indicating that growth came primarily from more customers purchasing jewellery rather than an increase in the average amount spent by each buyer.
Average realisations remained at levels similar to the corresponding period last year.
This suggests that the 45% expansion was largely volume-driven, supported by stronger customer participation during the festive shopping season.
Dhanteras and Diwali traditionally represent an important sales period for India’s jewellery industry, with consumers purchasing gold, diamond and other jewellery for personal use, gifting and investment.
Entry-level jewellery gains momentum
BlueStone also reported stronger demand for products at entry-level price points during the festive period.
The company said the broader consumer trend of treating jewellery as part of an everyday wardrobe, rather than restricting purchases to weddings and major occasions, remained intact.
This trend could help organised jewellery retailers expand their customer base by offering products across different price ranges.
Founder and CEO Gaurav Singh Kushwaha said more consumers chose BlueStone during the festive season, which reflected the strength of the company’s design-led proposition and its ability to offer differentiated jewellery across multiple price points.
Festive demand supports jewellery market
The company’s update indicates that consumer demand remained strong during the crucial festive shopping period despite average realisations remaining unchanged.
The rise in buyer transactions is particularly significant because it indicates that the reported growth did not depend primarily on customers spending more per purchase.
Instead, a larger number of consumers contributed to the expansion.
BlueStone’s 45% year-on-year growth between October 1 and November 8 therefore points to strong festive demand as well as growing interest in jewellery products positioned at more accessible price points.
The company has described the figures as provisional and unaudited, meaning its full quarterly financial results could provide a more detailed picture of the festive season’s impact on revenue and profitability.
