CaratLane’s second store to debut in city mall

From 2008 when the brand took the digital plunge to strengthen its customer base, there has been traction, Atul Sinha, SVP – Marketing, said. “It is a difficult category and purchases are emotion driven. So, while the customer would go upto the cart stage of finalising the purchase, the checkout would not happen. As we tried to understand the reason, we found that a 3-D experience through ‘perfect look mirror,’ with size comparisons– USB or credit card or a SIM, worked well while there were customers who also wanted to physically try the jewellery before concluding the purchase,” he said, sharing the range of business moves that the brand had embarked upon. 

CaratLane’s home flagship store is in the city, while the second showroom will be opened later this week at Phoenix Market City. Sinha said, this will take up its national store count to 24. Of these, eight are in Delhi, five in Mumbai, and the rest in Bengaluru and Hyderabad. 

Customer’s preferences had led the brand to leverage its technology muscle by providing them options of ‘trial’ by using their app developed by the in-house team along with a foreign technology firm. “We are the only jewellery company in the world to offer such a customised benefit,” he said. 

Its ability to use designs that is used for daily wear is aimed at “democratising” jewellery wear, Sinha said, noting that 2,000 of its total 7,000 piece portfolio were available in the flagship store in Chennai. While rings, ear-rings and pendants generated revenues in volume terms, gold and diamond items made up for value returns. Blending modernity with tradition, CaratLane claims to have had a stupendous success with the launch of its ‘peacock’ range, priced in the Rs 25,000 to Rs 4 lakh segment. 

The omnichannel jewellery brand has retail and online complementing each other. “Guests can browse the jewellery without having to physically go to a store. Details of the jewellery with individual specifications and pricing have been transparently displayed on the website for the convenience of the customers,” Sinha noted.