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CaratLane is an Indian physical and online jewelry retailer, headquartered in Chennai, India.[1]
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.[2][3] As of July 2020, the retailer had 92 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 Template:INRConvert from Tiger Global making the sum total invested by the Hedge Fund approximately Template:INRConvert.[9][10][11][12]
In July 2016, Titan purchased a 62% stake in CaratLane for Template:INRConvert.[2]
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.[13][14][15]
- 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.[16][17]
References
- ↑ Inside CaratLane. The Hindu(9 March 2018). Retrieved 11 August 2018.
- ↑ 2.0 2.1 Titan to acquire 62 per cent stake in Carat Lane for Rs 357.24 crore. economictimes.indiatimes.com. Retrieved 20 July 2016.
- ↑ Tiger Global Invests $6 M In Diamond Jewellery Portal CaratLane. VCCircle. Retrieved 8 April 2015.
- ↑ Our Story. www.caratlane.com. Retrieved 2020-07-12.
- ↑ Carat Lane Gets PE Funding(4 July 2011). Retrieved 28 April 2015.
- ↑ Making a mark with online solitaires - The Financial Express. The Financial Express(2015-05-27). Retrieved 2016-07-20.
- ↑ I wanted people to discover jewellery: CaratLane’s Mithun Sacheti. Mint(2015-08-07). Retrieved 2015-09-30.
- ↑ Tiger Global Invests $6M In Diamond Jewellery Portal CaratLane(22 June 2011). Retrieved 8 April 2015.
- ↑ Tiger Global Invests $6M in Diamond Jewellery Portal CaratLane(22 June 2011). Retrieved 8 April 2015.
- ↑ CaratLane Raises $31 M in Funding From Tiger Global. Medianama.com. Retrieved 8 April 2015.
- ↑ CaratLane Raises $31 Million(26 January 2015). Retrieved 8 April 2015.
- ↑ Caratlane targets Rs. 1,500 cr sales. The Hindu(2014-09-20). Retrieved 2016-07-20.
- ↑ Caratlane launches virtual jewellery try-on app(20 August 2015). Retrieved 2 September 2015.
- ↑ Now Try Your Jewelleries on Your Smartphone Before Buying Them, Here's How(24 August 2015). Retrieved 2 September 2015.
- ↑ CaratLane to offer 3-D shopping experience. The Hindu(2015-06-12). Retrieved 2016-07-20.
- ↑ India's 20 hottest e-commerce startups. www.rediff.com. Retrieved 25 May 2015.
- ↑ Specialised Online Stores Hottest e-Commerce Start-Ups: Survey. Nerve.in. Retrieved 8 April 2015.