CaratLane Expands Global Footprint: New Stores and Overseas Ventures
CaratLane, supported by Tata Group, plans to open 40 new stores, 10% owned by the company, focusing on the northern, eastern, and southern regions of India. The brand, aiming for high double-digit revenue growth, is also expanding its international presence with new stores in the US and potential ventures in West Asia.
- Country:
- India
CaratLane, the Tata Group-supported jewellery brand, is set to significantly expand its retail presence by adding 40 new stores in the upcoming financial year, of which 10% will be company-owned, according to Saumen Bhaumik, Managing Director.
The strategic expansion will prioritize the northern, eastern, and southern regions of India where demand for the brand is robust, while concentrating on enhancing the performance of existing stores in the western part of the country. The financial influx for these new ventures will be sourced internally, although the exact capital expenditure remains undisclosed.
In pursuit of global growth, CaratLane has commenced its overseas expansion with a physical retail presence already in New Jersey and a new store set to launch in Dallas. The company is further exploring opportunities in West Asia and continues to ship to numerous countries worldwide, including the US and UK.
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