Caratlane rings

Synopsis CaratLane had been in a strategic vendor relationship with Tanishq, Titan’s jewellery brand, since 2010. Between 2016 and 2019, Titan bought into the company in tranches, spending a cumulative Rs 440-450 crore, primarily via a secondary purchase of shares from Tiger Global, an early stage backer. Titan also made a primary infusion of Rs 99 crore in the company. “It’s an ongoing negotiation — these things take time,” said a senior Tata Group executive. “Titan is a listed company, so it has to follow certain guidelines. On the other hand, entrepreneurs want quick solutions as startups need to be nimble.” CaratLane had been in a strategic vendor relationship with Titan hasn’t acted upon its call option. Earlier in the year, it roped in Bank of America to negotiate for the residual 28% stake. In March, BofA forwarded an offer that valued the entire company at Rs 6,000-7,000 crore, which translated to Rs 1,680 -1,960 crore for the founders’ stake. The founders are said to have rejected this as being too low. The founders, who have Avendus as their banker, called off the process without initiating a valuation exercise. Since March, Titan and Tata Group officials have been trying to re-engage with the CaratLane brass. Sources said Titan may make a revised offer closer to a Rs 15,000 crore valuation. On average, the street considers CaratLane’s equity value to be Rs 23,446 crore, said analysts tracking the company. The company is expected to have ended FY23 at Rs 2,300 cr...

The new store is located at Jawahar Nagar, Perambur, Chennai in Tamil Nadu Bengaluru: Omni-channel jewellery brand CaratLane – a Tanishq Partnership, has launched a new store in Chennai, a company official wrote on social media. The new store is located at Jawahar Nagar, Perambur, Chennai in Tamil Nadu. “New Store Alert! CaratLane – A Tanishq Partnership now at Perambur,” wrote Deepika Khare, national head, business development at CaratLane & Shaya on LinkedIn while posting pictures of the new store. Recently, CaratLane also opened stores at Tirunelveli in Tamil Nadu), Vashi and Kharghar near Mumbai in Maharashtra, Anand and Ahmedabad in Gujarat, Kota in Rajasthan, Jasola in New Delhi and Hennur in Bengaluru, Karnataka. CaratLane was established in 2008 by Mithun Sacheti and Srinivasa Gopalan as an online jewellery brand that offers rings, earrings, bracelets, bangles and solitaires. In July 2016, Tata Group invested in the company through its subsidiary Titan. The partnership was aimed at working towards a mission to offer customers jewellery and an enhanced shopping experience. Currently, the brand has over 227 stores in 88 cities across the country. CaratLane ended the fiscal year 2023 on a high, crossing Rs 2,000 crore in revenue, while the category saw a huge slowdown in customer sentiment towards the end of the last quarter. Read more about it Showcase your product / solution to digitally savvy decision makers from Retail, eCommerce, D2C, Fashion, Food, shopping cent...