CaratLane Eyes Retail Expansion with 40 New Stores in FY27

Tata Group-backed jewellery brand CaratLane plans to open 40 stores in the coming financial year, 10 per cent of which will be company-owned, a senior executive said.

"We have almost 50 stores right now, and we expect to add around 40 stores next year (2026-27); however, we won't be in a hurry to open them. In the first quarter, we will probably focus on exploring stores and in the second quarter, we will start the expansion for FY27. Around 10 per cent of these new stores will be owned by the company," CaratLane Managing Director Saumen Bhaumik told PTI.

About 13 per cent of the current 50 operational stores are company-owned, he added.

He said this expansion will be more in the north, east and the south, while in the west the openings will be fewer.

"I think in north, east, and south, we will continue to expand. In the west, we will be opening fewer stores as we have already opened a decent number in that region. Right now, I want to make sure that every store in the western region starts delivering more than its stated potential, and then we will go all out again," Bhaumik said.

The funds needed for the expansion of these stores will be raised internally, Bhaumik said, without mentioning the total capital expenditure for the same.

The company, which had a revenue of Rs 3,983 crore in FY25, expects to close this fiscal year with high double-digit growth, he added.

"Right from the beginning of the year, we launched several stunning collections with monotonous regularity, and we made sure that we kept it affordable. Then we had a consistent marketing calendar that generated enough and more desire for the brand. So, with the combination of many things, we are expecting high double-digit revenue growth this fiscal year," he added.

Further discussing the company's overseas plans, Bhaumik said, CaratLane has one brick-and-mortar store in New Jersey in the US, and the second one will soon open in Dallas.

"And as far as international presence is concerned, we are currently present in New Jersey as a physical retail store. And we have our second store in Dallas, ready to be launched anytime. Besides, we also ship to around 30 countries, including the US and Canada; we supply to the UK, Australia and many more countries," he said.

For further overseas presence, the company is exploring countries in West Asia, Bhaumik added.

CaratLane has three manufacturing units, two in Mumbai and the third one in Chennai.

"Altogether, we have three manufacturing units, two in Mumbai and one in Chennai, which is revamped and will reopen soon. We invested Rs 24-25 crore for revamping the Chennai unit, which was raised through internal accruals. This unit will employ 200-300 people to begin with," he added.