Published
Nov 20, 2019
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Caratlane opens two new stores, plans to add 14 more by March 2020

Published
Nov 20, 2019

Tanishq-owned omni-channel jeweller Caratlane has strengthened its retail presence with the addition of two new stores in the country.
 

Caratlane opens two new stores, plans to add another 14 by March 2020 - Caratlane


With these store openings, Caratlane entered the southern city of Mysore and also opened its second store in the north Indian city of Chandigarh.
 
The company is planning to further expand its retail footprint across India by opening 14 more stores, to reach a store count of 90 by the end of the financial year 2019-20.

Commenting on the store opening, Mithun Sacheti, founder & CEO of CaratLane in a statement said: “We are thrilled to celebrate the opening of our 75th store in India. Karnataka has always been an important market for us, and we are excited to launch our first store in Mysuru.”
 
Talking about the Chandigarh store opening, Jennifer Pandya associate vice president at Caratlane added: “With our second store in Chandigarh, we now have four stores in the Punjab region. One of our goals has been to make a mark in the cities of the north and western region of India and it is exciting to do so.”
 
Caratlane now has 76 stores spread across the country. It had posted revenue of Rs 421 crore ($60.7 million) in 2018-19 and managed to narrow its losses to Rs 38 crore, as against Rs 82 crore it had posted in the fiscal year 2018.

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