CaratLane explained

CaratLane
Type:	Subsidiary
Location:	Chennai, Tamil Nadu, India
Founder:	Mithun Sacheti, Srinivasa Gopalan
Ceo:	Mithun sacheti
Key People:	(Co-Founders) Avnish Anand, Gurukeerthi G^[1]
Industry:	e-Commerce
Owner:	Titan Company

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] As of December 2021, the retailer had 130 stores across 36 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

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 from Tiger Global making the sum total invested by the Hedge Fund approximately .^{[9] [10] [11] [12]}

In July 2016, Titan purchased a 62% stake in CaratLane for .^[13]

Additional notes

• 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]}

Notes and References

1. Web site: Now, Avnish Anand, Gurukeerthi G are CaratLane's co-founders. brandequity.economictimes.indiatimes.com. 8 November 2016.
2. News: Kumar. Surya Praphulla. 9 March 2018. Inside CaratLane. The Hindu. 11 August 2018.
3. Web site: Tiger Global Invests $6 M In Diamond Jewellery Portal CaratLane. 8 April 2015. VCCircle.
4. Web site: Our Story. 2020-07-12. www.caratlane.com.
5. News: Carat Lane Gets PE Funding. 28 April 2015. The Hindu. 4 July 2011.
6. 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.
7. Web site: 2015-08-07. I wanted people to discover jewellery: CaratLane’s Mithun Sacheti. 2015-09-30. Mint.
8. News: 22 June 2011. Tiger Global Invests $6M In Diamond Jewellery Portal CaratLane. VCCircle. 8 April 2015.
9. News: Tiger Global Invests $6M in Diamond Jewellery Portal CaratLane. 8 April 2015. VCCircle. 22 June 2011.
10. Web site: CaratLane Raises $31 M in Funding From Tiger Global. Medianama.com. 8 April 2015.
11. News: CaratLane Raises $31 Million. 8 April 2015. Business Standard. 26 January 2015.
12. News: Caratlane targets Rs. 1,500 cr sales. 2014-09-20. The Hindu. en-IN. 0971-751X. 2016-07-20.
13. Web site: Titan to acquire 62 per cent stake in Carat Lane for Rs 357.24 crore. economictimes.indiatimes.com. 20 July 2016.
14. News: Caratlane launches virtual jewellery try-on app. 2 September 2015. Business Standard. 20 August 2015.
15. News: Now Try Your Jewelleries on Your Smartphone Before Buying Them, Here's How. 24 August 2015. International Business Times. Roy. Anirban. 2 September 2015.
16. News: CaratLane to offer 3-D shopping experience. 2015-06-12. The Hindu. en-IN. 0971-751X. 2016-07-20.
17. Web site: India's 20 hottest e-commerce startups. www.rediff.com. 25 May 2015.
18. Web site: Specialised Online Stores Hottest e-Commerce Start-Ups: Survey. Nerve.in. 8 April 2015.