Titan to acquire additional stake in CaratLane at $2 Bn valuation
Shortpedia
Content Team
Image Credit: theindustryinsight
Tata-owned watchmaking giant Titan has signed a share purchase agreement to acquire an additional 27.18% stake in omnichannel jewellery startup CaratLane for a sum of INR 4,621 Cr. A rough calculation pegs CaratLane at a valuation of more than INR 17,000 Cr ($2 Bn) turning the omnichannel jewellery brand into a unicorn. With this, Tata now has four unicorns in its stable, the others being BigBasket, Tata 1mg and Cultfit.
