CaratLane
Type of site | Private Limited |
|---|---|
| Headquarters | Chennai, Tamil Nadu, India |
| Founder(s) | Mithun Sacheti, Srinivasa Gopalan |
| Key people | (Co-Founders) Avnish Anand, Gurukeerthi G[1] |
| Industry | e-Commerce |
| URL | www.caratlane.com |
| Launched | 2008 |
CaratLane is the biggest online jewellery company in India,[3] recently opened 6th store in Bangalore and 39th in country.[4] It was founded by Mithun Sacheti and Srinivasa Gopalan in 2008.[5]
CaratLane's inventory includes diamond jewellery and gold coins.[6]
History and operations
Mithun Sacheti, a jewellery retailer, collaborated with Srinivasa Gopalan who is an IT entrepreneur and the founder of Lister Technologies, to form CaratLane.[7][8]
Instead of maintaining a conventional inventory, the company relies on several thousand vendors who supply gems on request. As of August 2015, the company operated ten physical stores in India.[9]
Funding
Tiger Global, a US-based hedge fund, has been investing in CaratLane since 2011.[10] In its fourth round of fundraising (in 2015) CaratLane received ₹192 crore (US$23 million) from Tiger Global making the sum total invested by the Hedge Fund approximately ₹318.31 crore (US$38 million).[11][12][13][14]
In July 2016, Titan purchased a 62% stake in CaratLane for ₹357.24 crore (US$43 million).[15]
3D App
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.[16][17][18]
Awards
- 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.[19][20]
References
- ^ "Now, Avnish Anand, Gurukeerthi G are CaratLane's co-founders". brandequity.economictimes.indiatimes.com. Retrieved 8 November 2016.
- ^ "Caratlane.com Site Info". Alexa Internet. Retrieved 9 April 2015.
- ^ Kumar, Surya Praphulla (9 March 2018). "Inside CaratLane". The Hindu. Retrieved 11 August 2018.
- ^ "CaratLane opens its 6th store in Bengaluru at Marathahalli". www.mangalam.com. Retrieved 4 June 2018.
- ^ "Tiger Global Invests $6 M In Diamond Jewellery Portal CaratLane". VCCircle. Retrieved 8 April 2015.
- ^ "Caratlane raises $31M in Series D round from Tiger Global". VCCircle.com. Retrieved 29 April 2015.
- ^ "Carat Lane Gets PE Funding". The Hindu. 4 July 2011. Retrieved 28 April 2015.
- ^ "Making a mark with online solitaires - The Financial Express". The Financial Express. 27 May 2015. Archived from the original on 21 August 2015. Retrieved 20 July 2016.
- ^ "I wanted people to discover jewellery: CaratLane's Mithun Sacheti". Mint. 7 August 2015. Retrieved 30 September 2015.
- ^ "Tiger Global Invests $6M In Diamond Jewellery Portal CaratLane". VCCircle. 22 June 2011. Retrieved 8 April 2015.
- ^ "Tiger Global Invests $6M in Diamond Jewellery Portal CaratLane". VCCircle. 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". Business Standard. 26 January 2015. Retrieved 8 April 2015.
- ^ "Caratlane targets Rs. 1,500 cr sales". The Hindu. 20 September 2014. ISSN 0971-751X. Retrieved 20 July 2016.
- ^ "Titan to acquire 62 per cent stake in Carat Lane for Rs 357.24 crore". economictimes.indiatimes.com. Retrieved 20 July 2016.
- ^ "Caratlane launches virtual jewellery try-on app". Business Standard. 20 August 2015. Retrieved 2 September 2015.
- ^ Roy, Anirban (24 August 2015). "Now Try Your Jewelleries on Your Smartphone Before Buying Them, Here's How". International Business Times. Retrieved 2 September 2015.
- ^ "CaratLane to offer 3-D shopping experience". The Hindu. 12 June 2015. ISSN 0971-751X. Retrieved 20 July 2016.
- ^ "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.
External links
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