CaratLane profits from Tanishq partnership, opens fifth store in Mumbai

By

Isabelle Crossley

Published
Sep 12, 2017

CaratLane opened its fifth store in Mumbai on September 9  and will open in Chennai on September 15 as business booms thanks to its partnership with jewellery giant Tanishq.

CaratLane was founded in 2008 as an e-commerce jewellery store but branched out into brick and mortar stores several years later. The brand currently has 24 - soon to be 25 - brick and mortar stores across India and its retail presence was made even stronger when the brand partnered with Tanishq, one of India’s most well-known jewellery labels, in 2016.

After experiencing both online and offline growth since the partnership, CaratLane decided to roll out a fast paced retail expansion. This was also due to the fact that, although their own e-commerce store was generating good traffic, customers shared that they preferred to visit a physical store to make their final purchase.

The brand’s new store is located in Phoenix Market City in Mumbai Metropolitan Region’s Kurla. CaratLane’s Founder and CEO, Mithun Sacheti said at the launch: “Our fifth outpost in Mumbai ensures to be your ultimate jewellery destination for any occasion. The store has an elegant decor along with bright settings to offer a memorable experience to our customers. Like all other stores, this one also has the virtual try-on ‘magic mirror’ for those ‘just looking’ moments.” CaratLane’s Facebook page announced September 15 as the date for their Chennai launch where the brand will open in the Phoenix Market City there as well.

These new shop launches signal the brand’s positive financial situation. Atul Sinha, Senior Vice President Marketing & Retail Sales for the brand, said: “CartaLane has been very consistent in its business growth and its designs being a very unique preposition to the modern lifestyle consumer.”