Titan's acquisition of CaratLane's remaining 27.18% stake for Rs 4,600 crore is a monumental moment in India's e-commerce landscape. With 98.28% ownership, Titan solidifies its position, valuing CaratLane at Rs. 17,000 crores.

India's e-commerce landscape, known for startup failures, has achieved a significant victory post the 2018 Flipkart acquisition. Titan, a Tata Group entity, has acquired the remaining 27% stake in CaratLane from founder Mithun Sacheti and family, paying Rs 4,621 crore in cash, valuing CaratLane at Rs. 17,000 crores (over $2 billion). This ranks as India's second-largest e-commerce exit, after Flipkart's acquisition by Walmart.

Titan's MD, C K Venkataraman, expressed confidence in India's consumer market and CaratLane's growth potential. He thanked Sacheti for creating a customer-centric brand within Tata Group. Sacheti acknowledged Titan's support, envisioning a bright future within Titan and Tata Group.

Established in 2008 by Sacheti and Srinivasa Gopalan, CaratLane aimed to transform India's diamond purchasing experience. Tiger Global funded its Series A in 2011, leading to total funding of $58 million until 2015. Titan acquired a 62% stake in 2016 for ₹357.24 crore, enhancing CaratLane's credibility. In 2023, CaratLane reported revenue surpassing Rs. 2000 crore and profitability, transitioning from online to a successful omnichannel approach with 227 stores in 88 cities.

In conclusion, Titan's acquisition of CaratLane showcases India's e-commerce potential, marking a significant success story amidst a challenging startup landscape.

Also, read Mastering Wordle Today: Navigating NYT Wordle today's Puzzle (Number 791) for 19th August 2023


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