Titan acquires stake in online jewellery retailer Caratlane
Q. Titan company has invested in which online jewellery retailer?- Published on 18 Jul 16a. Gili
b. Caratlane
c. Nakshatra
d. Tanishq
ANSWER: Caratlane
Titan company, part of the salt to steel conglomerate TATA Group has invested INR 357 crore for 62% stake in online jewellery retailer Caratlane.
- The acquisition values Caratlane at INR 575 crore.
- Titan which makes watches and jewellery under the Tanishq brand indicating it has picked up a majority stake in Chennai based company.
- Titan will be acquiring 19,142,545 shares and this is the second such deal where a retail player has invested in an e-commerce firm.
- Earlier, Future Group purchased furniture retailer Fabfurnish.