PC Jeweller Ties Up with US-based Online Jeweller Blue Nile

Image Source: BlueNile

Image Source: BlueNile

With an aim to evaluate the Indian market for potential online jewellery sales, India based PC Jeweller has signed a collaboration agreement with US-based online jeweller Blue Nile.

Founded in 1999, Blue Nile is an online retailer of diamonds and offers engagement rings, wedding rings and fine jewellery. Started by PC Garg, PC Jeweller has a pan-India jewellery retail chain with a focus on diamond and gold jewellery and has more than 50 showrooms across 42 cities in 17 states.

Recently, Southeast-Asia focused private equity firm Creador bought a minority stake in the Indian firm for a deal amount of Rs 135 crore through a secondary market share purchase.

Titan’s Tanishq is already online. PCJ has an online portal under the name ‘WearYourShine’. Last year in September it had tied up with Flipkart for its jewellery vertical.

In September 2014, Tata Sons’ chairman Ratan Tata had invested an undisclosed amount in online jewellery retailer Bluestone. Also, Chennai-based online jewellery portal, Caratlane had raised USD 31 million in series D round from Tiger Global. Other deals in the space include SAIF Partners investing in Senco Gold and Warburg Pincus is making a bet on the Kalyan Jewellers.