BlueStone IPO gets demi-fine jewellery a place in spotlight

A new sparkle BlueStone's blockbuster IPO has boosted investor interest in fashion jewellery startups.

- Sowmya Ramasubramanian [e-mail]

Soaring gold prices are gradually relegating the precious metal to the status of a pure investment and, in doing so, fundamentally changing how Indians buy fashion accessories. Demi-fine jewellery is stepping in to fill the void, proving an accessible, fashionable alternative that sets a new standard for wearable luxury.

This type of jewellery offers a middle ground between traditional heirloom gold pieces and fast-fashion accessories, by using sterling silver, gold-plating and semiprecious stones instead of solid gold or platinum and precious stones. Prices generally range from ₹6,000 to ₹1 lakh in most categories such as earrings, rings, and necklaces.

Omnichannel jewellery retailer BlueStone’s successfull listing in August, which delivered multibagger returns for its early backers such as Accel and Saama Capital, has further bolstered investor sentiment, prompting venture capitalists to scout for the next set of winners in fashion jewellery.