Mithun Sacheti

Some Lesser Known Facts About Mithun Sacheti

• Mithun Sacheti is an Indian entrepreneur. He is the co-founder and managing director of India’s first online jewellery store, CaratLane. Mithun is a certified gemologist from the Gemological Institute of America.

• Mithun Sacheti belongs to a wealthy family in Mumbai. In 1974, Mithun’s parents founded Jaipur Gems in Mumbai.

  

• In 2000, Mithun Sacheti started his own Jaipur Gems outlet in Chennai. Mithun, along with Avnish Avnand, co-founded an online jewellery store named CaratLane in 2008.

  

• CaratLane focused on the growing market for affordable and easy-to-reach jewellery online. Afterwards, CaraLane turned into a brand that used both the internet and physical stores in Bengaluru, Delhi NCR, Hyderabad, Coimbatore, Chennai, and more cities.

  

• According to Mithun Sacheti, initially, his target customers were young women who were successful and could take care of themselves financially.

• In 2015, in a media conversation, Mithun Sacheti stated that he wanted to do something different to flourish his business, and he found that the best solution was to use the internet to reach his customers. He said,
  

  I was a shopkeeper, I started from there. I decided I had to do something differently. The best way to do that was on the internet because you could reach more people online than anywhere else. On the Internet, people can discover a gamut of products sitting in their own homes. And the more they see, the more they buy.”

  

• In February 2023, Mithun Sacheti talked about a dinner he had with Rakesh Jhunjhunwala, a well-known Indian businessman, also known as the Big Bull. According to Mithun Sacheti, this dinner compelled him to establish his own company, CaratLane, which later, earned him a huge success.

• CaratLane is a part of Titan, and Titan’s ownership went up from 71.09 per cent to 98.28 per cent in August 2023. Titan brought about 62 per cent ownership of CaratLane in 2016 from its previous investors, Tiger Global.

  

• In August 2023, Tata Group’s company, Titan, which sells watches and jewellery, announced on its online portals that it will buy an additional 27.18 per cent stake in Mithun Sacheti’s CaratLane. Reportedly, soon after the deal, Mithun Sacheti and his company earned Rs. 4621 crores in cash from this agreement. ^[4]Live Mint With this acquisition, Titan became the owner of 98.28 per cent shares in CaratLane. Reportedly, this is the second largest exit for a founder, following Sachin Bansal and Binny Bansal of Flipkart.

• Mithun Sacheti likes enjoying alcoholic beverages occasionally.