CaratLane to open 40 more stores by March 2020 amid tepid jewellery sales

CaratLane is eyeing a 56% jump in revenue at Rs 500 cr for FY19, from Rs 320 crore the previous year

 

At a time when jewellery sales are abysmally low, online and offline retailer CaratLane, partly owned by Titan Company, plans to set up 40 more stores.

CaratLane opened its 50th store in Mumbai last month and will open more through a combination of owned and franchisee stores. “Our strategy is to open 35 stores by March 2020 through the franchise route and five owned and operated by us. The franchise model of expansion is aimed to yield profit without making an investment,” said Avnish Anand, co-founder, CaratLane.

Started in 2008 by Mithun Sacheti, a jewellery retailer, and