CaratLane to break even by FY20, to add 50 stores next year

By

Maverick Martins

Published
Feb 28, 2019

Titan Ltd-owned omni-channel jeweller CaratLane is all set to break even and achieve profitability in the financial year 2020 on the back of strong sales at its online channels and a majority of its standalone stores.
 

Caratlane will also be expanding its offline presence with the addition of 50 new stores over the next 2 years. It had recently opened its largest store in the city of Mumbai and currently has 50 stores in the country.
 
Caratlane is expecting its revenue to jump 56 percent to Rs 500 crore ($70.3 million) by the end of this fiscal as against Rs 320 crore it had reported in the previous fiscal. The company is expecting strong sales in the next fiscal with a growth rate of 50 percent on the back of its offline expansion.

“CaratLane is on-course to attain profitability by next fiscal end. The online channel (primarily own-website and mobile app) is already breaking even; while 90 percent of its brick-on-mortar stores are profitable,” Rajan Amba, chief operating officer at Caratlane told Businessline.
 
“Ideally, we should be breaking even in the next six months or so. But, considering the nature of the jewellery business, it (profitability) may vary by a month or so. So it would be safe to say that by FY20 we should be profitable at a company level,” he added.
 
CaratLane is one of India’s leading omni-channel jewellers which currently sell diamond, gold and silver jewellery. It began business as an online jewellery platform and was acquired by Titan Ltd in 2016.