CaratLane

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CaratLane
Type of site
Subsidiary
HeadquartersChennai, Tamil Nadu, India
OwnerTitan Company
Founder(s)Mithun Sacheti, Srinivasa Gopalan
CEOMithun sacheti
Key people(Co-Founders) Avnish Anand, Gurukeerthi G[1]
Industrye-Commerce
URLwww.caratlane.com
Launched2008; 16 years ago (2008)

CaratLane is an Indian physical and online jewelry retailer, headquartered in Chennai, India.[2]

History

The company was founded by Mithun Sacheti, and Srinivasa Gopalan, in 2008. As of July 2016, the company is a subsidiary of Titan Jewellery, and marketed as a partnership with Tanishq.[3][4] As of December 2021, the retailer had 130 stores across 36 cities in India.[5] [6][7]

The company started off as an online retailer before opening physical stores, with its first store opening in Chennai.[8]

Funding

CaratLane has raised four rounds of capital,

Tiger Global, a US-based Hedge fund.[9] In its fourth round of fundraising (in 2015) CaratLane received ₹192 crore (US$24 million) from Tiger Global making the sum total invested by the Hedge Fund approximately ₹318.31 crore (US$40 million).[10][11][12][13]

In July 2016, Titan purchased a 62% stake in CaratLane for ₹357.24 crore (US$45 million).[3]

Additional notes

  • On 20 August 2015, CaratLane launched an
    3D imaging technology to allow customers virtually try on the earrings available on their site. This app can be downloaded on to any smart device.[14][15][16]
  • In 2011,
    Sapient Nitro and JuxtConsult conducted a study to identify the most popular e-commerce sites in India and CaratLane was in the top 20. It was also identified as the best in terms of usability and user interface design.[17][18]

References

  1. ^ "Now, Avnish Anand, Gurukeerthi G are CaratLane's co-founders". brandequity.economictimes.indiatimes.com. Retrieved 8 November 2016.
  2. ^ Kumar, Surya Praphulla (9 March 2018). "Inside CaratLane". The Hindu. Retrieved 11 August 2018.
  3. ^ a b "Titan to acquire 62 per cent stake in Carat Lane for Rs 357.24 crore". economictimes.indiatimes.com. Retrieved 20 July 2016.
  4. ^ "Tiger Global Invests $6 M In Diamond Jewellery Portal CaratLane". VCCircle. Retrieved 8 April 2015.
  5. ^ "Our Story". www.caratlane.com. Retrieved 12 July 2020.
  6. ^ "Carat Lane Gets PE Funding". The Hindu. 4 July 2011. Retrieved 28 April 2015.
  7. ^ "Making a mark with online solitaires - The Financial Express". The Financial Express. 27 May 2015. Archived from the original on 21 August 2015. Retrieved 20 July 2016.
  8. ^ "I wanted people to discover jewellery: CaratLane's Mithun Sacheti". Mint. 7 August 2015. Retrieved 30 September 2015.
  9. ^ "Tiger Global Invests $6M In Diamond Jewellery Portal CaratLane". VCCircle. 22 June 2011. Retrieved 8 April 2015.
  10. ^ "Tiger Global Invests $6M in Diamond Jewellery Portal CaratLane". VCCircle. 22 June 2011. Retrieved 8 April 2015.
  11. ^ "CaratLane Raises $31 M in Funding From Tiger Global". Medianama.com. Retrieved 8 April 2015.
  12. ^ "CaratLane Raises $31 Million". Business Standard. 26 January 2015. Retrieved 8 April 2015.
  13. ISSN 0971-751X
    . Retrieved 20 July 2016.
  14. ^ "Caratlane launches virtual jewellery try-on app". Business Standard. 20 August 2015. Retrieved 2 September 2015.
  15. ^ Roy, Anirban (24 August 2015). "Now Try Your Jewelleries on Your Smartphone Before Buying Them, Here's How". International Business Times. Retrieved 2 September 2015.
  16. ISSN 0971-751X
    . Retrieved 20 July 2016.
  17. ^ "India's 20 hottest e-commerce startups". www.rediff.com. Retrieved 25 May 2015.
  18. ^ "Specialised Online Stores Hottest e-Commerce Start-Ups: Survey". Nerve.in. Retrieved 8 April 2015.

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