New Delhi: Tata-owned contemporary jewellery retail chain Caratlane reported revenue growth of 73 per cent to Rs 2169 crore for the year ended March 31, 2023, the company announced in a press note on Wednesday. It recorded an EBITDA of Rs 166 crore for the year.
In quarterly terms, the company’s revenue grew 57 per cent YoY to Rs 571.24 crore.
“While the category saw a huge slowdown in customer sentiment towards the end of the quarter, CaratLane delivered a revenue (NSV) of INR 571.24 crores for the year 2022-2023 (56.7% growth over Q4 FY22) and EBIT at 6.9%,” the press note read.
Its international business saw a 60 per cent YoY growth in quarter 4 with an increase in efficiency and conversions, the company claimed. Caratlane’s silver jewellery arm, Shaya closed the quarter at Rs 8.4 crore, reporting 50 per cent growth over last year.
During FY23, the company also crossed the 1 million customer mark. “…now with over 227 stores in 88 cities across the country and an aggressive plan for the coming year, we are excited to reach our next 1 Mn customers,” commented Avnish Anand, COO and co-founder, CaratLane.
In terms of retail footprint, the company has 227 stores in 88 cities across the country.
