CaratLane launches 5th store in Mumbai

CaratLane, India’s leading Omnichannel jeweller has opened its 5th store in the Mumbai Metropolitan Region at Phoenix Market City in Kurla.
Situated at Central Mumbai’s largest fashion destination, the store has a warm and welcoming ambience.
“Our fifth outpost in Mumbai ensures to be your ultimate jewellery destination for any occasion. The store has an elegant decor along with bright settings to offer a memorable experience to our customers. Like all other stores, this one also has the virtual try-on ‘magic mirror’ for those ‘just looking’ moments.” Founder & CEO CaratLane, Mithun Sacheti said, while speaking about the launch.
In the endeavour of making beautiful jewellery accessible, CaratLane is expanding its retail footprint across the country at a fast pace.
With discerning customers looking for trustworthy jewellery brands, CaratLane’s association with Tanishq has only come across as a boon for those looking to buy precious, contemporary jewellery. This partnership has made CaratLane’s retail presence stronger in the last year, with the brand already operating 23 stores across the country.
CaratLane started as an online brand in 2008 and for many years it was selling only in the online space. Building a reputation and trust took time as the brand had to educate the customers who would start thinking and accepting the jewellery that it could be bought online.
“CartaLane has been very consistent in its business growth and its designs being a very unique preposition to the modern lifestyle consumer. The price points became the biggest USP bring affordability starting as below as Rs 3,000. Consumers started accepting us as this jewellery could be related to everyday life and frequent occasions being bought online. Talking on the statistics part out of the 100 people visiting our online store, only 10 were actually busing and the rest 90 would stop. With the consumer research we found out that he needs a physical retail outlet for final buying. Comparing this with other jewellery retailers our store format is totally different as most of the decision making has already happened online and now they just come to the store to experience and purchase. Because of this our retail store are much smaller and more efficient. Currently the brand has 23 operational exclusive brand outlets and is looking to open 2 store a month. As of now the company is only looking at expansion through their exclusive outlets. The company is looking at doubling its turnover growth in the coming years,” concluded Sr. Vice President Marketing & Retail Sales, CaratLane, Atul Sinha.