Published
Apr 25, 2019
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Caratlane expects revenue of Rs 414 crore for FY19, plans offline expansion

Published
Apr 25, 2019

Titan Ltd-owned omnichannel jeweller CaratLane is betting big on the Indian jewellery market and will be expanding across the country by adding a new store every ten days.
 

Caratlane expects revenue of Rs 414 crore for FY19 - CaratLane


The company is expecting sales to touch to Rs 414 crore ($59.2 million) for the recently concluded financial year 2018-19 and expects it to further grow by another 50 percent during the current fiscal year 2019-20.
 
CaratLane had reported total revenue of Rs 293 crore ($42.2 million) for the financial year ended March 31, 2018.

Tata group firm Titan recently pumped in Rs 100 crore in Caratlane to increase its stake to 69 percent. With the fresh capital infusion, Caratlane is looking to expand its retail presence and will also be investing heavily on marketing and advertising to boost sales to help it achieve profitability by 2020.
 
“The company’s losses are likely to shrink by 50 percent in FY19 and it will break-even by FY20. Though we are profitable on an operational level, the company expects to break-even by FY20,” Atul Sinha, senior vice president marketing at CaratLane told the Economic Times.
 
“The company looks to close FY19 with Rs 414 crore in net revenue with a further 40% - 50% rise in the net revenue to about Rs 621 crore in FY20. We plan to open a store almost every 10 days,” Sinha added.
 
CaratLane currently has 50 brick-and-mortar stores across India and also sells online through its own website.

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