Omnichannel jewellery brand CaratLane, has incorporated a wholly owned subsidiary namely StudioC Inc in the State of Delaware, in the US.
Accordingly, StudioC Inc has become a step down subsidiary of the Titan Company effective 11 February 2021. The authorised capital of StudioC Inc is 1,000 shares at no-par value and paid-up capital is 150 shares at no-par value. StudioC Inc is CaratLane’s first such subsidiary in the international markets and is part of its strategy to gain a foothold in the overseas jewellery segment.
CaratLane was founded in 2008, by Mithun Sacheti and Srinivasa Gopalan, with an objective of making beautiful jewellery accessible, affordable and wearable. CaratLane is also known for its signature jewellery-buying experience across all platforms.
In Q3, CaratLane recorded a 38 per cent growth YoY, outperforming the jewellery market and delivered ₹16 crore in profit before tax. Mithun Sacheti, Founder and Managing Director of CaratLane said, “It has always been our vision to participate in the exciting international jewellery market. With this outpost of CaratLane we plan to bring in new jewellery buying experience to shoppers in the US and other key markets. We believe that our unique designs and understanding of the online consumer, gives us an advantage that will help us become relevant to these customers.”
Along with its website and app in India, CaratLane now has 109 brand stores across the country. It also offers services like Try at Home and CaratLane Live, to help customers buy jewellery online. CaratLane stores also include a Solitaire Lounge personalised with a highly skilled team to assist diamond buyers to find the perfect solitaire.