CaratLane explained

CaratLane
Type:Subsidiary
Location:Chennai, Tamil Nadu, India
Owner:Titan Company
Divisions:Jewellery

CaratLane is an Indian jewellery brand under Titan Company, headquartered in Chennai, India.[1]

History

The company was founded by Mithun Sacheti, and Srinivasa Gopalan, in 2008. As of July 2024, the company is a subsidiary of Titan Jewellery, and fully owned by Titan Company Limited .[2] As of August 2024, the retailer had 275+ stores across 100+ cities in India.[3] [4] [5]

The company started off as an online retailer before opening physical stores, with its first store opening in Chennai.[6]

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.[7] [8]

Funding

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 from Tiger Global making the sum total invested by the Hedge Fund approximately .[10] [11] [12] [13]

In July 2016, Titan purchased a 62% stake in CaratLane for .[14]

Notes and References

  1. News: Kumar. Surya Praphulla. 9 March 2018. Inside CaratLane. The Hindu. 11 August 2018.
  2. Web site: Tiger Global Invests $6 M In Diamond Jewellery Portal CaratLane. 8 April 2015. VCCircle.
  3. Web site: Our Story. 2020-07-12. www.caratlane.com.
  4. News: Carat Lane Gets PE Funding. 28 April 2015. The Hindu. 4 July 2011.
  5. Web site: Making a mark with online solitaires - The Financial Express. 2015-05-27. The Financial Express. en-US. 2016-07-20. https://web.archive.org/web/20150821114057/http://www.financialexpress.com/article/fe-columnist/making-a-mark-with-online-solitaires/77065/. 21 August 2015. dead.
  6. Web site: 2015-08-07. I wanted people to discover jewellery: CaratLane’s Mithun Sacheti. 2015-09-30. Mint.
  7. Web site: India's 20 hottest e-commerce startups. www.rediff.com. 25 May 2015.
  8. Web site: Specialised Online Stores Hottest e-Commerce Start-Ups: Survey. Nerve.in. 8 April 2015.
  9. News: 22 June 2011. Tiger Global Invests $6M In Diamond Jewellery Portal CaratLane. VCCircle. 8 April 2015.
  10. News: Tiger Global Invests $6M in Diamond Jewellery Portal CaratLane. 8 April 2015. VCCircle. 22 June 2011.
  11. Web site: CaratLane Raises $31 M in Funding From Tiger Global. Medianama.com. 8 April 2015.
  12. News: CaratLane Raises $31 Million. 8 April 2015. Business Standard. 26 January 2015.
  13. News: Caratlane targets Rs. 1,500 cr sales. 2014-09-20. The Hindu. en-IN. 0971-751X. 2016-07-20.
  14. Web site: Titan to acquire 62 per cent stake in Carat Lane for Rs 357.24 crore. economictimes.indiatimes.com. 20 July 2016.

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