Titan Company has made a strategic investment in CaratLane Trading Private Limited, a company focused on affordable and accessible jewelry. Titan will purchase all of the shares held by CaratLane‘s founder and their family members, totaling to 27.18% of the total paid-up equity share capital. The deal is valued at Rs. 4,621 crore ($556 million).
CaratLane, which began as an online business in 2008, swiftly gained traction in the jewelry sector by focusing on the changing needs of the modern Indian consumer. CaratLane has been a member of the Titan group since 2016, and has enjoyed tremendous growth as a result of its collaboration efforts with the renowned Tanishq brand. Titan will possess an aggregate ownership of 98.28% of the equity share capital and voting rights in CaratLane as a result of this strategic purchase.
Titan’s Managing Director, CK Venkataraman, stated, “We have great faith in the India Consumer story and believe that CaratLane‘s growth journey has only begun and has a long way to go.” We applaud Mithun Sacheti, Founder and Managing Director of CaratLane, for working with us to create a customer-centric brand that we can all be proud of, and we wish him continued success in his future endeavors.”
Mithun Sacheti, the Founder and Managing Director of CaratLane, shared his thoughts on the acquisition, saying, “Having aspired to make beautiful jewelry accessible and affordable to all, I am immensely proud of what we have collectively accomplished at CaratLane over the last 15 years and where the business stands today.” Looking ahead, there is no better place for CaratLane than Titan and the prestigious Tata Group, who will give the optimum opportunity for CaratLane to continue to expand from strength to strength. I sincerely thank Titan, as well as my colleagues, partners, and million+ consumers whose support and love paved the route for our success and helped Titan become India’s largest digitally native omni-channel jewelry brand. I hope CaratLane and everyone affiliated with it much success in the future.”
Titan strengthens its position in the jewelry market with this acquisition, expanding its varied portfolio to include renowned brands such as Tanishq, Mia, Zoya, and now, CaratLane.