Ratan Tata's CaratLane makes big move, plans to…, big challenge for Mukesh Ambani, Kumar Mangalam Birla due to…
Titan Company's CaratLane is targeting higher revenue growth than the previous financial year, over the growing popularity of lower-carat jewellery among younger Indians and plans for new store openings, its CEO told Reuters.
Brands like CaratLane and Kalyan Jewellers' Candere are rapidly expanding their offerings of lower-carat jewellery considering a younger demographic that views jewellery more as a fashion accessory than a traditional investment approach.
Earlier this year, CaratLane introduced 9-carat jewellery around Valentine's Day, a significant move in a market predominantly dominated by 22-carat gold purchases.
Candere plans to open 80 stores in India in the year that started April 1, matching the number of higher-priced Kalyan locations planned for the same period, while larger-sized CaratLane aims to open more than 40 outlets, mostly in smaller cities.
As of end-March, CaratLane had 322 stores, making it the second-largest jewellery brand by store count within the Tata Group. The brand contributes about 6% to Titan 's overall revenue.
'Overall growth (in fiscal 2026) … will be no less than what we have done last year,' CaratLane Managing Director Saumen Bhaumik said in an interview after market hours on Friday.
In the year ended March 31, CaratLane's topline jumped 24% to 35.83 billion rupees ($418.96 million), with earnings before interest and taxes at 2.96 billion rupees, helping the brand record its best year.
Profit for the nascent financial year 'is going to be significantly better', Bhaumik said.
In recent months, while soaring gold prices have led many Indians to opt for lightweight, lower-carat jewellery to stay within budget, Bhaumik said CaratLane's average bill value has still inched up by a tenth, aided by new launches.
Mukesh Ambani's Reliance Industries also owns the jewelry brand Reliance Jewels . Kumar Mangalam Birla, the chairman of Aditya Birla Group, launched a jewellery brand named Indriya in July 2024.
Tata's big boost for its jwellery business can challenge these existing players in this sector.
(With Inputs From Reuters)
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