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Titan Seeks To Debut Its CaratLane Jewellery Line In The US In FY25

Inc42 · 1y ago

Titan Seeks To Debut Its CaratLane Jewellery Line In The US In FY25

Titan, a leading jewellery and watch retailer, is planning to introduce its CaratLane jewellery line in the US in fiscal year 2025. This move follows the international launch of its Tanishq brand in 2020. The company aims to meet the growing demand from the Indian diaspora abroad and is targeting the opening of 40 Tanishq stores outside of India by the end of fiscal year 2025. Tanishq has already opened stores in Dubai's Meena Bazaar and expanded to North America, the GCC, and Singapore. CaratLane, a subsidiary of Titan, recently became a wholly-owned subsidiary of the company.

Related News

Titan Buys Remaining 0.36% Stake In CaratLane For INR 60 Cr

Inc42 · 1y ago

Titan Buys Remaining 0.36% Stake In CaratLane For INR 60 Cr

Indian watchmaker Titan has acquired the remaining 0.36% stake in jewellery brand CaratLane for INR 60.08 crore ($8.2m). This means CaratLane will become a wholly-owned subsidiary of Titan. Last year, Titan purchased a 27.18% share in CaratLane for INR 4,621 crore, taking its total stake to 99.64%. CaratLane manufactures and sells jewellery in India and the US and had a turnover of INR 2,177 crore in the financial year 2022-23. The acquisition is expected to be completed by the end of March. The Tata Group, which owns Titan, also holds stakes in startups 1mg and BigBasket.

Titan-Owned CaratLane’s FY23 sales jump to INR 2,169 Cr, profit dips to INR 82 Cr

Inc42 · 1y ago

Titan-Owned CaratLane’s FY23 sales jump to INR 2,169 Cr, profit dips to INR 82 Cr

Titan-owned jewellery startup CaratLane achieved operating revenue of INR 2,169 Cr in FY23, a growth of 73%. However, its net profit decreased by 8% to INR 82 Cr. The company's total expenditure rose by 69% to INR 2,068.5 Cr. CaratLane, backed by Tata, specializes in manufacturing and selling jewellery items in India and the US. The procurement cost, employee benefit expenses and advertising expenses were the major contributors to the increased expenditure. CaratLane's EBITDA margin expanded to 9.75%.Titan acquired an additional 27.18% stake in CaratLane earlier this year, valuing it at $2 Bn and taking its total stake to 98.28%.

Titan's dazzling leap: CaratLane eyes new horizons

Livemint

Livemint · 1y ago

Titan's dazzling leap: CaratLane eyes new horizons

Titan Co. Ltd, the leading jewellery and watch retailer, is planning to launch its CaratLane jewellery line in the United States in the fiscal year 2025, following the successful launch of its Tanishq brand overseas in 2020. The company aims to cater to the growing demand from the Indian diaspora abroad and hopes to have 40 Tanishq stores outside of India by March 2025. Titan's focus for international expansion is currently on North America and the Gulf cooperation council (GCC) countries.

Titan Company to expand jewellery market share; grow emerging businesses

Livemint

Livemint · 1y ago

Titan Company to expand jewellery market share; grow emerging businesses

India's jewellery and watch retailer, Titan Company, plans to increase its store count by 40%, reaching 1,250 stores by FY27. The company aims to expand its market share to 10-11% and grow its buyer base to 6 million. Titan Company's jewellery division includes brands such as Tanishq, Zoya, CaratLane, and Mia by Tanishq. Additionally, the company intends to triple volumes in emerging businesses, such as wearables, women's bags, and ethnic wear. Titan Company's optimistic outlook is based on its diverse portfolio and potential for market share gain.

CaratLane posts Rs 883 Cr revenue in Q4 FY25

Entrackr

Entrackr · 2m ago

CaratLane posts Rs 883 Cr revenue in Q4 FY25

Omnichannel jewellery brand CaratLane recorded 23% year-on-year growth during the fourth quarter of the last fiscal year. Moreover, its EBIT reached Rs 70 crore during the same period. CaratLane's total income (excluding bullion and digital gold sales) surged to Rs 883 crore in Q4 FY25, up from Rs 717 crore in Q4 FY24. These figures were reported in Titan’s quarterly results, sourced from the National Stock Exchange (NSE). The studded jewellery category posted a 19% growth, while other segments—including gold jewellery, gold coins, and others—registered a higher growth of 44% during the same period. According to the company's press release, CaratLane added 17 new stores in India, bringing the total to 322 stores across 139 cities. During the quarter ending March 2025, CaratLane had one international store in New Jersey, United States. With a 22% growth in brand searches, CaratLane’s EBIT stood at Rs 70 crore during Q4 FY25, with a margin of 7.9%. Notably, Titan's total jewellery business, including Tanishq and Mia, grew by 25% to Rs 11,232 crore in Q4 FY25. Its domestic (India) business grew by 23% to Rs 10,845 crore during the same period. During FY25, CaratLane posted a 24% year-on-year increase in revenue, rising to Rs 3,583 crore from Rs 2,889 crore in FY24. However, its earnings before tax (EBT) stood at Rs 296 crore, recording a margin of 8.3% for the same period. CaratLane directly competes with Bluestone, Giva, and Melorra. Last month, Bluestone secured approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO), as the firm plans to raise Rs 1,000 crore through a fresh issue of equity shares.

CCI approves Titan’s Rs 4,621 crore stake purchase in CaratLane

Economic Times

Economic Times · 1y ago

CCI approves Titan’s Rs 4,621 crore stake purchase in CaratLane

The Competition Commission of India (CCI) has approved Titan's acquisition of a 27.18% stake in CaratLane, an omnichannel jewellery retailer. Titan, a Tata Group company, is buying the stake for Rs 4,621 crore in cash. This acquisition marks the second-largest exit for an ecommerce founder in India.

Titan plans to add 14 more Tanishq stores by the end of FY24

Thehindubusinessline

Thehindubusinessline · 1y ago

Titan plans to add 14 more Tanishq stores by the end of FY24

Titan Company, a leading Indian jewellery retailer, aims to expand its Tanishq brand with the addition of 14 stores by the end of FY24. Additionally, the company plans to expand internationally and open around 50 jewellery stores by FY27. Currently, Titan has over 410 Tanishq stores in India and 14 stores globally. The company is also looking to add 7 more stores to its Zoya brand by FY25. The CFO of Titan Company, Ashok Sonthalia, highlighted the importance of maintaining quality and customer experience while expanding their store network.

CaratLane posts Rs 1,117 Cr revenue in Q3 FY25, EBITDA tops Rs 130 Cr

Entrackr

Entrackr · 5m ago

CaratLane posts Rs 1,117 Cr revenue in Q3 FY25, EBITDA tops Rs 130 Cr

Omnichannel jewellery brand CaratLane has recorded 27% year-on-year growth during the third quarter of the ongoing fiscal year. Moreover, its EBITDA crossed Rs 130 crore in the same period. CaratLane's total income (excluding bullion and Digi Gold sales) surged to Rs 1,117 crore in Q3 FY25, up from Rs 879 crore in Q3 FY24, reflecting 27% year-on-year growth. The figures were reported in Titan’s quarterly results sourced from the National Stock Exchange (NSE). According to the company's press release, CaratLane has added 19 new stores in India, bringing the total to 305 stores across 128 cities. During the quarter ending December 2024, CaratLane also opened its first international store in New Jersey, United States of America. With the 22% growth in brand searches, EBITDA for CaratLane stood at Rs 131 crore during Q3 FY25, with a margin of 11.7%. Notably, Titan's total jewelry business, including Tanishq and Mia grew by 26.6% to Rs 16,134 crore in Q3FY24, compared to 12,742 crore in Q3 FY24. Apart from CaratLane, Tanishq, and Mia have added 11 and 13 new stores respectively in the domestic market during the last quarter. Titan Company Limited initially acquired a 62% stake in CaratLane for Rs 357.24 crore in 2016. Over time, it increased its holding to 71.09%. The company later acquired an additional 27.18% for Rs 4,621 crore, bringing its total stake to 98.64%, and subsequently purchased the remaining shares for Rs 60 crore in February last year. During the fiscal year ended March 2024, CaratLane posted a 42% year-on-year increase to Rs 3,081 crore from Rs 2,169 crore in FY23. However, its profit slipped 3.7% to Rs 79 crore in the same period. CaratLane directly competes with Bluestone which filed DRHP to SEBI for Rs 1,000 crore IPO and reported Rs 1,266 crore in operating revenue for FY24 with a loss of Rs 142 crore. Fine jewellery brand Giva saw a 66% year-on-year revenue growth to Rs 274 crore in FY24. Meanwhile, Melorra is yet to post its annual results for the last fiscal.

Titan Acquires 27.2% Additional Share Of Caratlane In Rs 4,621-Crore Deal

OutlookIndia

OutlookIndia · 1y ago

Titan Acquires 27.2% Additional Share Of Caratlane In Rs 4,621-Crore Deal

Jewelry maker Titan has acquired an additional 27.18% stake in subsidiary CaratLane, raising its total holding to 98.28%. The Tata group firm purchased equity shares for Rs 4,621 crore, expecting the deal to close by October 31, 2023, subject to regulatory approvals. Titan initially invested in CaratLane in 2010 and increased its stake over the years.

Tata's Titan to buy Rs 60 crore worth CaratLane shares to make it wholly owned company

IndianStartupNews

IndianStartupNews · 1y ago

Tata's Titan to buy Rs 60 crore worth CaratLane shares to make it wholly owned company

Tata-owned Titan Company is set to acquire the remaining 0.4% stake in CaratLane, making it a wholly-owned subsidiary. Titan will purchase 1,19,489 shares, currently held by individual shareholders, representing a 0.36% stake in CaratLane. This move comes as CaratLane continues to perform well financially, reporting a turnover of Rs 2,177 crore for the fiscal year 2022-23, with a 32% increase in income for the quarter ending in December. Titan initially invested in CaratLane in 2016 and has seen significant growth and expansion of the brand since then.

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