The Journey of CaratLane: Challenges, Growth, & the Acquisition by Titan with Founder Mithun Sacheti
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- Опубліковано 21 лип 2024
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In this episode, we talk with Mithun Sacheti, the founder of CaratLane, who has disrupted the traditional jewellery industry in India by leveraging technology and innovation. He started CaratLane in 2008 with the vision to provide access to beautiful jewellery designs at an affordable price.
Mithun Sacheti comes from a Marwari family and joined the family jewellery business, Jaipur Gems, after graduation. He started its stores in Chennai. Later, he founded Caratlane in 2008 after being inspired by the online jewellery retailer, Blue Nile. Caratlane aims to solve the problem of limited access to beautiful and affordable jewellery designs for the middle class in India.
The conversation dives into his entrepreneurial journey, his insights on the Indian D2C startup ecosystem, and the challenges he faced along the way. Mithun recalls the struggles he had in convincing Bluedart to be their shipping partner and how it took them almost a year and a crore to build their website.
Tune in now to know Mithun’s journey of building Caratlane from scratch, his belief that in life, the harder thing is not to find answers but to find the right questions and what are the next questions for him in life.
Notes -
00:00 - Highlights of the conversation
01:45 - The idea & Need of Caratlane
01:55 - Disrupting the underserved jewellery market in India
03:19 - The first one to bring jewellery at low prices
03:33 - The designs should be democratised
03:55 - Becoming the Market Maker
04:04 - The reality of the Jewellery Market in India
06:08 - Why 25% of your wealth should be in form of gold?
06:47 - The effect of Ukraine War on purchase of gold
07:05 - Quitting family business to start Caratlane
08:30 - Life of kids born in families running big businesses
08:58 - Inspiration behind starting Caratlane
10:36 - First few pivots in their product journey
13:38 - Initial phase of building and growing Caratlane
17:57 - Raising funding & building for Titan
21:57 - Journey after Tiger Global’s funding
24:12 - Getting advice from Raamdeo Agrawal at Rakesh Jhunjhunwala’s dinner
31:48 - Why do people really buy jewellery?
39:13 - Tata group being able to marry the Entrepreneur to the business post-acquisition
43:03 - Learnings while working with Tata
46:15 - What are the next questions in life for him?
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100x Entrepreneur is a podcast series hosted by Siddhartha Ahluwalia, a 2x founder, and VC & Startup Business Development Manager, South at Amazon Web Services (AWS).
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Hashtags: #caratlane #tata #mithunsacheti
Great interview. But one request to reduce Fusss noise of breath. Thank you
Thank you for your feedback and appreciate the kind words!
Was it a fuss sound or someone was actually breathing while the mics were on?
Truly insightful and the questions were so on point. Love your personal knowledge about the market. Way to go siddharth🤜🤛
Glad you like! Tune in on latest episodes for more insightful contents!
Amazing amazing amazing... Hope I can get to work with you Mr. Neon.
Thank you so much for your kind comment! Reach out to us at neon.fund if you're looking to get into contact with us!
This is one of the most underrated podcast channels out there....hope this gets more love in the coming days...❤
We know that and we have been trying our best to take the word out there. We also know where we lacked so have been working past 6 months to improve on many fronts..The changes will be out in some days..so plsss stay tuned as listeners like you only help us improve, grow and encourage the go beyond our level.. And thanks for making our day Ankith :) -Nansi
great podcast. Loved it completely 💯👍
Thanks for listening! Tune in for the latest episodes!
Wonderful interview. Thanks. Just wondering where the heavy breathing sound kind of noise coming from?
Exactly
The second biggest exit! Way to go Mithun
Truly inspirational!
He's not CEO he's MD of CaratLane
You did a Podcast with Mithun Sacheti 7 months ago very ahead of time when he wasn't famous as he is now, after his 2nd biggest exit from Caratlane (sold to Titan).
Now everybody is taking his interview and doing podcasts with him but your show is very much ahead of time.
We pride ourselves on finding the most inspiring and 0-100 growth stories and we really appreciate your kind words a lot 😁🙏🏾