Titan Acquires CaratLane

CaratLane has 13 physical stores and has plans for more

Titan Co., the Indian jewelry conglomerate that owns the Tanishq jewelry chain, has acquired a majority stake in Indian e-tailer CaratLane Trading.

CaratLane sells jewelry online as Caratlane.com and has 13 physical stores. In a statement, Titan said the company plans to ramp up its retail presence.

Titan’s exact stake and CaratLane’s valuation are still under discussion, a statement said. The acquisition is expected to be completed by June.

Since its founding in 2007, CaratLane has raised $51 million in three funding rounds, according to CrunchBase.

In an interview with CNBC, company chief financial officer Subbu Subramaniam admitted CaratLane was still running a loss but said that “we all know that e-commerce as such is growing significantly in India, and jewelry is not going to be an exception.”

 

JCK News Director

Log Out

Are you sure you want to log out?

CancelLog out