CaratLane continues retail expansion, opens 56th outlet in Coimbatore
Titan-owned omnichannel jeweller CaratLane has strengthened its foothold in Southern India with the opening of its new store in the city of Coimbatore.
Caratlane plans to continue with its retail expansion and will be opening two stores every month for the remaining fiscal.
Caratlane started its offline journey in 2012 and since then has been on an expansion spree opening stores across India. The store in Coimbatore is the brand’s 56th in the country.
The store will house the latest collections from the brand like Jhanak, Pero, Aranya, Noor-e-Kashmir among many others.
The company had reported revenue of Rs 414 crore ($59.5 million) for the financial year 2018-19 and is expecting revenue to rise 50 percent to Rs 621 crore during the current financial year on the back of its retail expansion.
“Caratlane’s mission was to democratise jewellery and make it accessible and affordable for everyone. To put it simply, our pieces are not for the lockers. We use minimum gold to create beautiful designs,” Atul Sinha, senior vice president-retail at Caratlane said in a statement.
“We plan to open two stores every month across the country this year. We have also opened two stores at Chennai and Mohali,” he added.
CaratLane began as an online store in 2008 and currently has 56 brick-and-mortar stores across India and also sells online through its own website.
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