Moneycontrol
Apr 09, 2017 03:38 PM IST | Source: PTI

CaratLane to add 30 retail stores, double biz turnover in FY18

Jewellery portal CaratLane is planning to add 30 more retail stores and also eyeing to double its business turnover in the current fiscal.

CaratLane to add 30 retail stores, double biz turnover in FY18

Jewellery portal CaratLane is planning to add 30 more retail stores and also eyeing to double its business turnover in the current fiscal.

"We expect growth to be well ahead of the industry average this year. We are looking at doubling our business in the current financial year. Our growth will be driven by increasing our online transactions as well as by opening more retail stores," CaratLane CEO and Co-founder Mithun Sacheti told PTI here.

He said the company currently has 16 retail stores -- including in Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, Chandigarh, Pune and Coimbatore -- and is planning to role out 30 more stores by the end of this financial year.

"Our retail stores are very different from the typical Indian jewellery stores that are elitist by nature. Our stores are designed for the customer who walks into a mall or a duty-free shop. There is no glass and you can walk right up to the products. One can touch, feel and experience the jewellery without any pressure...," he added.

The company's try-at-home sales channel has also become popular for consumers who would rather buy something in the comfort of their own home.

"Consumers can select up to five products and a trained salesman will carry those products and more to their house for them to try on. We were the first to launch this sales channel for jewellery in India," Sacheti said.

He said, rings, pendants, necklaces, earrings and bracelets are among the top items purchased from CaratLane.

"We have over 5,000 items listed on our website. The average ticket size of our shoppers is between Rs 15,000 to Rs 30,000," he added.
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