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Havish Gupta
Figuring OutĀ ā¢Ā 1y
How Cartlane disrupted the Jewellery Market? > jewellery market was totally offline > So Mithun Sancheti Thought to make it Online > In 2008, he started CaratLane along with Srinivasa Gopalan > idea was to create an online platform where one could browse, customise, and purchase jewellery > soon raised $500k in seed funds > but it didn't work > people didn't trust buying jwellery online > They added transparent pricing and authenticity guarantees > even that didn't work > further, it's a capital-intensive business with high operational costs > time for change! > they raised $13M and set up offline stores > customers could now try jewellery offline and then buy it online > this worked! > in 2016, Titan, Tata's brand, acquired 65% of the company for $50M > today, CaratLane makes over ā¹2000cr in revenue with a ā¹170cr profit Awesome, isn't it?
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