Caratlane launches ‘Shaya’ to tap silver jewellery market
Titan Ltd owned jeweller CaratLane is looking to tap the booming silver jewellery market in India with the launch of its new silver jewellery brand ‘Shaya’.
Shaya has been launched in the market with three key collections: Wild Flower, Shining Armour, and Rani Udaymati. The collections will offer earrings, bangles, necklaces, rings, bracelets, and more. It has been priced from Rs 600 to Rs 11,000.
Titan’s brand Tanishq holds a dominant share in the gold and silver jewellery market in India. With Shaya, the company is looking to make inroads into the lucrative silver market.
India’s silver jewellery market is estimated to be close to $2 billion and is expected to grow at 30 to 35 percent CAGR for the next 3 to 5 years.
Commenting on the launch, Mithun Sacheti, Founder and MD, CaratLane said, “We started Shaya because we realized that there was a huge gap in the market. Although gold and silver jewellery co-exist side by side in the Indian woman’s wardrobe, most of them feel that when it comes to silver, the options are fairly generic or too expensive.”
“It was a natural fit for us because CaratLane’s mission is to democratise jewellery, and design differentiation is core to our brand DNA’, he added.
Caratlane began business as an online jewellery platform and was acquired by Titan Ltd two years ago. Currently, the brand has 37 physical outlets across India and also sells through its own e-commerce portal and Tata Cliq.
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