05-10-2016, 03:31 PM
Titan Co Ltd, Tata Group’s watch and jewellery retailing firm, has struck a deal to buy a majority stake in India’s largest jewellery e-tailer Caratlane.com in what marks another offline retail firm snapping up an e-commerce platform in its own vertical.
Titan said on Friday it will buy a majority stake in Carat Lane Trading Pvt Ltd, which operates Caratlane.com. It didn’t give the deal value and said the final contours of the transaction are yet to be worked out.
Caratlane, which competes with the likes of Bluestone among others, is backed by Tiger Global. One of the most active venture investors in the country till last year, Tiger Global had pumped in over $50 million in Caratlane in tranches, according to VCCEdge, the data research platform of VCCircle.
It had last invested in the firm in December 2014 at an enterprise value of $117 million (Rs 716 crore then) in what was a Series D round of funding.
This came almost two years after it invested around $10 million in a Series C round. Previously, it had invested in 2011 and 2012.
Titan said on Friday it will buy a majority stake in Carat Lane Trading Pvt Ltd, which operates Caratlane.com. It didn’t give the deal value and said the final contours of the transaction are yet to be worked out.
Caratlane, which competes with the likes of Bluestone among others, is backed by Tiger Global. One of the most active venture investors in the country till last year, Tiger Global had pumped in over $50 million in Caratlane in tranches, according to VCCEdge, the data research platform of VCCircle.
It had last invested in the firm in December 2014 at an enterprise value of $117 million (Rs 716 crore then) in what was a Series D round of funding.
This came almost two years after it invested around $10 million in a Series C round. Previously, it had invested in 2011 and 2012.