Mithun Sacheti, MD and CEO, Caratlane “There is a long runway in this. That long runway that we are going to see is what excites everybody who wants to play this category. So we have great governance, we are fast growing, we are profitable and profits are growing faster,” says Mithun Sacheti, MD & CEO,…
Taneira, the women’s ethnic wear brand from Titan, the TATA group company, is planning to become a Rs 1,000 crore brand by FY 2027. It also aims to take the total store count to more than 200 by FY 2027, Ambuj Narayan, CEO, Taneira told ETRetail. Launched in 2017, Taneira currently boasts of 50 stores…
Avnish Anand, CEO, CaratLane Omni-channel jewellery retailer CaratLane on Friday appointed Avnish Anand as its new chief executive, roughly a week after the departure of its founder and CEO Mithun Sacheti. Anand was previously chief operating officer of the Tata Group-owned CaratLane and has been at the firm for more than 8 years. “Avnish… was…
Ashok Sonthalia, CFO, Titan Ashok Sonthalia, CFO, Titan, says starting from negative profitability, CaratLane is now firmly profitable, growing by almost 50% plus CAGR for the last five years. Now a stage has come where it felt prudent to increase our stake. At this point of time, the help of the founder and Titan expertise…
Representative Image Tata group company Titan, which agreed to purchase CaratLane founder Mithun Sacheti‘s stake in the omnichannel jewellery retailer for Rs 4,621 crore, is expected to buy employee stock options (ESOPs) held by CaratLane employees for around Rs 340-350 crore, or approximately $42 million, people aware of the discussions said. The company has around…
Mithun Sacheti, founder, Caratlane Mithun Sacheti founded online jewellery selling platform CaratLane in 2008 along with Srinivasa Gopalan. On Saturday, he scored one of the most successful exits by an Indian consumer internet entrepreneur when he sold his 27% stake to watchmaker Titan for Rs 4,621 crore. Sacheti, 44, first brought the Tata group company…
After months of negotiations, Tata group company Titan has bought out the residual 27.18% stake in its subsidiary CaratLane from the omnichannel jewellery brand’s founder Mithun Sacheti and his family members for Rs 4,621 crore in cash. The latest transaction will ascribe a valuation of Rs 17,000 crore to CaratLane. The deal ranks as the…
