Titan, a fashion accessories brand, has acquired an additional 27.18 per cent stake in CaratLane, an online jewellery retailer, taking its total ownership to 98.28 per cent. The acquisition, which is subject to regulatory approvals, will be completed by October 31, 2023. Titan will acquire 91.9 lakh equity shares from the founder of CaratLane Trading and their family members for Rs 4,621 crore.
CaratLane is an unlisted company that was founded in 2007. It has a turnover of Rs. 2,177 crore and operates in India and the United States. The acquisition will help Titan to expand its presence in the online jewelry market.
CaratLane is a leading player in the online jewelry market and has a strong brand image. The acquisition will also help Titan to leverage CaratLane’s technology and expertise in the online space. Titan is a subsidiary of the Tata Group. It is one of the leading fashion accessories brands in India. It has a wide range of products, including watches, eyewear, jewelry, and bags.
Titan is also a leading player in the retail sector. It operates a chain of stores across India.The acquisition of CaratLane is a significant move by Titan. It is the company’s first major acquisition in the online space. The acquisition will help Titan to strengthen its position in the fashion accessories market and expand its reach to a wider audience.