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Personal Accessories Brand Titan Plans To Buy 15% Stake in Caratlane.com

Personal Accessories Brand Titan Plans To Buy 15% Stake in Caratlane.com

India’s leading range of personal accessories brand, Titan is planning to buy 15% stake in online jewellery retailer, CaratLane.com in a deal worth $30 Mn. The deal is likely to be signed in few weeks which will make CaratLane valuation at around INR 1,200 Cr.

Caratlane is targeting INR 1500 Cr by 2019 and is expected to close this fiscal with a top-line of INR 350 Cr.

Presently, Tiger Global is the single largest shareholder in Caratlane with a total of $27 Mn investment over three years from 2011 to 2013. The company valued at INR 750 Cr in the last round of funding where Tiger Global invested $31 Mn last year.

With the current investment in Caratlane, Titan plans to access Caratlane’s customer base and hold a significant online presence also, diluting the existing investor’s stake.

Tata group showed its interest in this segment last year when Ratan Tata made his personal investment in Bluestone.

Titan is a unit of Tata Group that sells jewellery under the Tanishq brand. Tanishq is a major contributor to Titan’s revenues which operates from its offline model of brick and mortar. Titan’s jewellery segment contributed INR 8,632 Cr last fiscal.

Founded by Srinivasa Gopalan and Mithun Sacheti a Chennai-based online jewellery retailer, Caratlane enables consumers to buy diamond jewellery online saving as much as 25% over retail prices. The company claims its customer base unit as a lakh with offline showrooms at cities in Bengaluru, Chennai, Delhi and Hyderabad.

Author

Akanksha Pahwa

Inc42 Staff

Passion for writing and inclination of being updated in technology brings Akanksha together to be a content writer. Her prior experience in PR firms widens her genres in Media planning, Corporate Communication and Research Analyses.

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