After making its mark in Diamond and Gold jewellery, Caratlane, Titan-backed online jewellery brand is all set to enter Silver Jewellery segment with the launch of its new Silver Jewellery Brand: SHAYA.
In the latest conversation with Economic Times, Mithun Sacheti, CEO of Caratlane said “For the last two years we have been working on this project and in the last one year it has picked up steam. We also see it as a natural progression for what we do for our customers. Talking to our customers gave a sense that they are ok buying silver jewellery as well. A lot of customers we serve buys gold as well as silver jewellery”
He also added “Our aim this year is to expand our portfolio. We are adding the Rs 10,000 price point in our portfolio which was missing earlier. With the launch of Shaya, we want to own the online jewellery business under Rs 10,000 category.”
Shaya To Be Sold Exclusively Online
Shaya will be launched as an online brand only. The Silver collection will not be available in the physical stores of Caratlane.
According to Sacheti, the online market for silver jewellery is huge to generate sales. Therefore, Shaya will focus on the online customers only.
Caratlane which currently has around 40 physical outlets across India was acquired by Titan Ltd 2 years ago.
It also sells through its own online jewellery portal and Tata Cliq.
The online jewellery brand, Caratlane aims to increase the number of its physical stores, going up to 60 by the end of the fiscal year.