CaratLane recorded a 27.9% YoY increase in total revenue to INR 829 Cr in Q2 FY20.

Omni-channel jewelery startup achieved EBIT of INR 58 Cr in Q2 with 7% margin

The Tata-owned company opened 11 new stores in the quarter under review, taking the total number of stores to 286 in 119 cities in India.

Omnichannel jewelery startup owned by Tata Caratlane It achieved a 27.9% year-on-year increase in its total revenue to INR 829 Cr in the second quarter of FY 2024-25 (Q2 FY25), driven by strong customer demand for its spiked products.

Total revenue does not include bullion and digital gold sales of INR 143 Cr and INR 63 Cr in the second quarter of FY25 and the second quarter of FY24, respectively, CaratLane’s parent company Titan said in an earnings release.

Additionally, CaratLane achieved EBIT (earnings before tax and interest) of INR 58 Cr in the July-September quarter with a margin of 7%.

The company stated that revenue from the spiked category increased by 41% year-on-year and its contribution increased by 7 percentage points to 79% in the quarter under review.

“Activations in July and August 2024 increased new customer acquisition by c. 21% YoY and brand searches by c. 30% YoY,” he added.

Additionally, CaratLane opened 11 new stores in the quarter under review, taking the total number of stores to 286 across 119 cities in India. The startup also claimed that its #WearYourWins brand campaign, launched in July and encouraging women to celebrate their victories, garnered strong engagement across all channels.

Founded in 2008 by Mithun Sacheti and Srinivasa Gopalan, CaratLane is a multi-channel brand that manufactures and sells jewelery products in India.

Titan Corporation Acquired additional 27.18% shares of CaratLane Last year, it increased its total shareholding to over 99% for INR 4,621 Cr at a valuation of around INR 17,000 Cr. Afterwards, Saatci purchased the remaining 0.36% shares In the INR 60.08 Cr startup, it converted CaratLane into a wholly owned subsidiary.

It competes with old players like CaratLane, Kalyan Jewellers, Malabar Gold as well as new age brands like BlueStone and GIVA.

Chennai based jewelery startup Reported profit of INR 78.6 Cr in FY24It was down 5% from INR 82 Cr in the previous fiscal. Meanwhile, the brand’s operating income rose 41% year-on-year to INR 3,080 crore in the financial year ending March 2024.