Caratlane to launch Shaya, its new silver jewellery brand

Caratlane is bringing its new brand, namely Shaya, to sell silver jewellery. Titan-backed online jewellery company, which sells diamond and gold jewellery, will launch the new brand by the end of September.

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 buy gold as well as silver jewellery."

By adding this new edition in its portfolio, Caratlane will become a key player in the under Rs 10,000 online jewellery category.

"Our aim this year is to expand our portfolio. We are adding the sub 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," Sacheti further added.

Shaya will only be available online. Its products will not be launched on Caratlane's physical store.

The company’s executive said, "We will not be opening physical stores for Shaya. There is a large online market for silver jewellery and we will leverage that."

Caratlane is also aiming to expand its offline store count from 40 to 60 by the end of the fiscal year.