Indian online jewellery retailer CaratLane, now majority owned by the Titan Company, which owns India’s largest jewellery brand Tanishq, is planning to add 30 more retail stores and also eyeing to double its business turnover in the current fiscal year.

Carat Lane co-founder and Chief Executive Mithun Sacheti says the company’s growth will come through a combination of increased online transactions as well as expanding the number of brick and mortar retail doors.

Currently, Carat Lane has 16 brick and mortar stores in Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, Chandigarh, Pune and Coimbatore. It plans to up this number to 46 by the end of the financial year.

"Our retail stores are very different from the typical Indian jewellery stores that are elitist by nature. Our stores are designed for the customer who walks into a mall or a duty-free shop. There is no glass and you can walk right up to the products. One can touch, feel and experience the jewellery without any pressure,” Sacheti said.

Carat Lane also has a try-at-home sales channel that combines the ease of online shopping with the assurance of being able to try the actual product before making the purchase. "Consumers can select up to five products and a trained salesman will carry those products and more to their house for them to try on. We were the first to launch this sales channel for jewellery in India," Sacheti said.

https://www.gemkonnect.com/news/carat-lane-add-30-retail-stores-double-turnover-fiscal-year-end