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Titan set to invest about Rs 187 Cr in jewellery e-tailer CaratLane for 15% stake

Tata
Group’s Titan is reportedly in advanced negotiations to invest about $30
million in online jewellery retailer CaratLane for a 15% equity stake, reports
the
Economic

Tata
Group’s Titan is reportedly in advanced negotiations to invest about $30
million in online jewellery retailer CaratLane for a 15% equity stake, reports
the
Economic
Times
, citing sources. Post
the deal, online jewellery company Carat-Lane will be valued at about Rs 1,200
crore. 

“We
are in the process of closing round D for which we are in talks with an Indian
conglomerate, among others,” CaratLane Founder Mithun Sacheti told the
Economic Times.

CaratLane has so far raised a total of $50
million, Sacheti told the Economic Times. Apart from Tiger
Global
, other stakeholders in CaratLane include Srinivasa Gopalan, CEO of
Lister Technologies, Mithun Sacheti and his brother. With the round D in place,
all the exiting investors’ stakes would also dilute and one of the angel
investor is likely to exit. 

Titan
draws a majority of its revenue from its jewellery business Tanishq. According
to the report, this strategic alliance between Titan and CaratLane would give
the former an access to new-age customers and new-age brand, whereas CaratLane
is likely to gain from Titan’s experience in marketing, one investor said. 

Titan
currently has four business divisions, namely, watches & accessories,
jewellery, eyewear and precision engineering. Its jewellery segment contributed
Rs 8,525.77 crore, watches contributedRs 1,611.6 crore. Tata Sons’ chairman emeritus, Ratan Tata in his personal capacity, has invested in online jewellery retailer BlueStone.

CaratLane offers home trials for up to five jewellery
items, across more than 20 cities. As part of its offline presence, CaratLane
has also set up offline showrooms in Bengaluru, Chennai, Delhi and Hyderabad. 

 

 

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