CaratLane

CaratLane
Type of site
Subsidiary
HeadquartersChennai, Tamil Nadu, India
OwnerTitan Company
DivisionsJewellery
URLwww.caratlane.com
Launched2008; 16 years ago (2008)

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

History

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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][3] As of August 2024, the retailer had 275+ stores across 100+ cities in India.[4] [5][6]

The company started off as an online retailer before opening physical stores, with its first store opening in Chennai.[7]

Funding

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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.[8] In its fourth round of fundraising (in 2015) CaratLane received 192 crore (US$23 million) from Tiger Global making the sum total invested by the Hedge Fund approximately 318.31 crore (US$38 million).[9][10][11][12]

In July 2016, Titan purchased a 62% stake in CaratLane for 357.24 crore (US$43 million).[2]

Titan increased its stake in CaratLane to 98.28% by acquiring an additional 27.18% share for ₹4,621 crore.

Titan to acquire balance 0.36% stake in CaratLane for Rs 60 crore in Feb.2024.

References

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  1. ^ Kumar, Surya Praphulla (9 March 2018). "Inside CaratLane". The Hindu. Retrieved 11 August 2018.
  2. ^ a b "Titan to acquire 62 per cent stake in Carat Lane for Rs 357.24 crore". economictimes.indiatimes.com. Retrieved 20 July 2016.
  3. ^ "Tiger Global Invests $6 M In Diamond Jewellery Portal CaratLane". VCCircle. Retrieved 8 April 2015.
  4. ^ "Our Story". www.caratlane.com. Retrieved 12 July 2020.
  5. ^ "Carat Lane Gets PE Funding". The Hindu. 4 July 2011. Retrieved 28 April 2015.
  6. ^ "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.
  7. ^ "I wanted people to discover jewellery: CaratLane's Mithun Sacheti". Mint. 7 August 2015. Retrieved 30 September 2015.
  8. ^ "Tiger Global Invests $6M In Diamond Jewellery Portal CaratLane". VCCircle. 22 June 2011. Retrieved 8 April 2015.
  9. ^ "Tiger Global Invests $6M in Diamond Jewellery Portal CaratLane". VCCircle. 22 June 2011. Retrieved 8 April 2015.
  10. ^ "CaratLane Raises $31 M in Funding From Tiger Global". Medianama.com. Retrieved 8 April 2015.
  11. ^ "CaratLane Raises $31 Million". Business Standard. 26 January 2015. Retrieved 8 April 2015.
  12. ^ "Caratlane targets Rs. 1,500 cr sales". The Hindu. 20 September 2014. ISSN 0971-751X. Retrieved 20 July 2016.

Additional notes

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  1. ^ "Caratlane launches virtual jewellery try-on app". Business Standard. 20 August 2015. Retrieved 2 September 2015.
  2. ^ 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.
  3. ^ "CaratLane to offer 3-D shopping experience". The Hindu. 12 June 2015. ISSN 0971-751X. Retrieved 20 July 2016.
  4. ^ "India's 20 hottest e-commerce startups". www.rediff.com. Retrieved 25 May 2015.
  5. ^ "Specialised Online Stores Hottest e-Commerce Start-Ups: Survey". Nerve.in. Retrieved 8 April 2015.