Titan acquires majority stake in E-tailer Carat Lane

Titan Company Limited has acquired majority stake in Carat Lane Trading Private Limited, having its registered office at No. 32, Rutland Gate, Khadar Nawaz Khan Road, 2 Stage, Nungambakkam, Royapettah, Chennai - 600 006. However, deal value and stake details would be disclosed post the conclusion of the accounting due diligence. 

The exact stake that Titan Company Ltd. will take in Carat Lane and the valuation are currently under discussion and details will be shared on signing of definitive documents. The transaction is expected to be consummated by the middle of June 2016.

The exact stake that Titan Company Ltd. will take in Carat Lane and the valuation are currently under discussion and details will be shared on signing of definitive documents. The transaction is expected to be consummated by the middle of June 2016.

Carat Lane is a leading online jewellery brand and sells its products through its website Caratlane.com. The Company has also developed omni-channel capabilities and has currently 13 stores across the country with plans to ramp up the retail stores significantly in the future.

Bhaskar Bhat, Managing Director of the Company stated that "For Titan, the acquisition brings significant capabilities in the e-commerce space along with a brand, a customer segment and a business model that are very exciting."