CaratLane expands in North India with 10th store in Delhi/NCR
Titan Limited owned omni channel jewellery brand Caratlane as part of its all India expansion plan has added a store in the national capital Delhi which is the company’s 10th store in the city and 34th store in India.
The new store is located at Sector 7, Rohini in the Delhi/NCR region and will offer customers the latest jewellery collections from Caratlane and Titan brand Tanishq.
Caratlane has been expanding its offline presence rapidly across the country to boost sales as it eyes
Rs 300 crore turnover (approx $47.2 million) for this fiscal from the Rs185 crore (approx $29.1 million) it reported in FY-17.
The brick and mortar stores contribute around 55 percent to the total revenues of the firm with the remaining 45 percent coming from online sales. The addition of more physical outlets is expected to increase that percentage slightly in the next fiscal.
Commenting on the launch, Mithun Sacheti, Founder & CEO CaratLane in a statement said, “We are extremely proud to launch our tenth store in Delhi. Like all our other stores, here we've created a whole new world of precious jewellery - beautifully urbane and edgy designs with a playful, unhindered access. The store also houses a solitaire corner and the virtual try-on 'magic mirror' for those 'just looking' moments”.
Caratlane currently has 34 physical outlets across the country and by the end of March plans to set up 7 more stores across places like Hyderabad, Patna, Ranchi and Indore.
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