Titan Company announced a strategic move to acquire an additional stake in CaratLane Trading Private Limited, a subsidiary focused on affordable and accessible jewellery. The deal involves Titan purchasing all the shares held by the Founder of CaratLane and their family members, amounting to 27.18% of the total paid-up equity share capital. The acquisition is set at a total value of ₹4,621 crore ($556 million).
CaratLane, which started as an online brand in 2008, quickly gained momentum in the jewellery market with its focus on catering to the evolving preferences of the contemporary Indian consumer. As a part of the Titan group since 2016, CaratLane experienced significant growth, driven by its collaborative efforts with the renowned Tanishq brand. This strategic acquisition by Titan will result in the company holding an aggregate ownership of 98.28% of the equity share capital and voting rights in CaratLane.
CK Venkataraman, Managing Director, Titan, said: “We have great faith in the India Consumer story and believe that the growth journey of CaratLane has only begun and has a long way to go. We thank Mithun Sacheti, Founder and Managing Director of CaratLane for having jointly built a customer-centric brand that all of us in Tata Group can be proud of and wish him continued success in his future endeavours.”
Mithun Sacheti, the Founder and Managing Director of CaratLane, shared his thoughts on the acquisition, saying, “Having dreamt of making beautiful jewellery accessible and affordable to all, I am immensely proud of what we have collectively achieved at CaratLane in the past 15 years and where the business stands today. Looking into the future, there couldn’t be a more ideal destination for CaratLane than Titan and the esteemed Tata Group who will provide the perfect opportunities for CaratLane to continue to grow from strength to strength. I wholeheartedly thank Titan as well as extend my heartfelt gratitude to colleagues, partners and million+ customers whose support and love has paved the way to our success and made it India’s largest digitally native omni-channel jewellery brand. I wish CaratLane and all those associated with it many more successes in times to come.”
With this acquisition, Titan solidifies its presence in the jewellery market, enhancing its diverse portfolio that includes renowned brands like Tanishq, Mia, Zoya, and now, CaratLane.