CaratLane, a wholly-owned subsidiary of Titan, is intensifying its focus on expanding offline stores and strengthening its presence in the competitive diamond jewellery market. With over 300 stores and 19 new openings in the October-December quarter, the brand is keen on catering to evolving consumer preferences. Atul Sinha, chief operating officer (COO) of CaratLane, spoke with Krishna Barot about the brand’s future strategies and market insights. Edited excerpts:
Nykaa Q3 Results: Profit surges 51.35% at Rs 26.41 crore, revenue up 26.74% YoY Q How is demand for diamond jewellery evolving in Tier 2 and Tier 3 cities?
A. We are witnessing a steady shift in consumer behaviour in Tier 2 and Tier 3 cities, with increasing demand for diamond jewellery. More consumers in these regions are embracing diamonds and incorporating them into their jewellery collections. We recently launched stores in Moradabad, Navsari, and Bokaro, and their performance has exceeded our expectations. Although these markets are still emerging, they offer tremendous potential. We are committed to making diamond jewellery more accessible and desirable in these regions.
Q. Has inflation impacted consumer demand in the diamond jewellery segment?
A. Inflation has had minimal impact on the diamond jewellery market. While inflationary pressures have affected some jewellery categories, diamonds remain resilient due to their enduring value and aspirational appeal. Additionally, we offer collections across various price points, allowing us to cater to different consumer segments and maintain steady demand.
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A. One of the biggest drivers is the increasing financial independence of women. Jewellery is no longer just a traditional purchase, it has become a form of personal expression, especially for regular wear. Another growth factor is the surge in jewellery gifting. More people are opting for affordable diamond jewellery to celebrate their relationships. Additionally, our kids’ jewellery segment has gained significant traction, particularly with collections inspired by popular brands like Disney’s Lion King. These designs resonate deeply with both children and parents, creating a new avenue for demand.
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