Overstock has announced the sale of $2.2 billion worth of Indian jewelry, including watches, necklaces, neck rings, neck laces, earrings, and necklamp rings.
The jewelry sale includes a whopping $1.7 billion worth in jewelry, totaling $2,260 million in total, as well as a handful of luxury watches, including a $10 million Louis Vuitton Chrono-5 and $4 million Gucci Chrono Chrono 7.
The jewelry also includes a $1 million Rolex.
The sale is the largest jewelry sale ever, and comes at a time when Indian consumers are increasingly turning to online retailers.
Overstock recently announced a deal with an Indian online marketplace called BazaarBazaar.com that will let consumers shop for jewelry at their local Overstock store, including the Indian jewelry seller.
The Indian jewelry sold includes a variety of designs, including some of the most expensive brands in the country, as the Wall Street Journal points out.
“The market has never been bigger, and the market is now much larger than it ever was,” says Anupam Shrivastava, chief executive officer at Bazaar Bazaar.
“So what we’re trying to do is bring the best of the best to the Indian marketplace, and we’ve already seen a great reaction.”
Bazaar Bazar also boasts a selection of jewelry from brands like Chanel, Chanel Paris, and Gucci.
Over the past few years, Bazaar has attracted a number of high-profile Indian fashion brands, including Huda Beauty, Puma, and T-Shirts.