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CaratLane

Summary

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

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)

History edit

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 edit

CaratLane has raised four rounds of capital, Series A through Series D, with the most recent round being led by 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 edit

  • On 20 August 2015, CaratLane launched an app that uses facial recognition and 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, Dataquest, 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 edit

  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. ^ "Caratlane targets Rs. 1,500 cr sales". The Hindu. 20 September 2014. 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. ^ "CaratLane to offer 3-D shopping experience". The Hindu. 12 June 2015. 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.

External links edit

  • Official website