CaratLane
Leadership History
3 leaders · 2008 to present
Saumen Bhaumik is the CEO of CaratLane, in the role since 2024. The first chief executive was Avnish Anand, from 2023.
| Name | Role | From | To | Years in role |
|---|---|---|---|---|
| Saumen Bhaumik | Managing Director | 2024 | Present | 2 |
| Avnish Anand | Co-founder & CEO | 2023 | 2024 | 1 |
| Mithun Sacheti | Founder & Managing Director | 2008 | 2023 | 15 |
CaratLane persuaded Indian shoppers to buy fine jewelry online. Buying gold and diamonds in India has traditionally meant going to a trusted family jeweler. CaratLane offered transparent pricing, modern lightweight designs and an online store instead. Tata's jewelry business, Tanishq, invested in the company and later took full control. The company is headquartered in Chennai, India.
CaratLane sells through both its website and its stores. It began online but found that customers still wanted to see and touch diamonds before buying, so it opened a network of small stores across India. The stores work as experience centers where customers try samples while most inventory is held centrally. Its Try at Home service brings jewelry to the customer's house.
Managing Director
2024 – Present
2 years (current)
Saumen Bhaumik became managing director in October 2024. He has expanded the network past 380 Indian stores, opened two US stores, and is pushing CaratLane into higher-priced diamond, polki and gemstone jewelry while scaling the Shaya brand.
A long-time Titan executive who previously led the group's eyecare business.
Co-founder & CEO
2023 – 2024
1 year
Promoted from COO to CEO in August 2023 after Mithun Sacheti's exit; stepped down on August 30, 2024.
Joined CaratLane in 2008, returned in 2015 as head of product, and was named co-founder in 2016 and COO in 2021.
Founder & Managing Director
2008 – 2023
15 years
Mithun Sacheti founded CaratLane in 2008 to sell transparent, certified everyday diamond jewelry online, added Try at Home and physical stores, brought in Titan as majority owner in 2016, and sold his remaining 27.18% to Titan for ~$536 million (₹4,621 crore) in August 2023.
A certified gemologist from a traditional jewelry family, Sacheti disrupted India's fragmented gold jewelry industry by introducing accessible, lightweight daily-wear diamond designs.
CaratLane's main pressures in 2026 are record gold prices (around $1,740 (₹1.5 lakh) per 10 grams for 24K gold) that push simple designs out of its core sub-₹50,000 price band, India's May 2026 increase in gold and silver import duty to 15% from 6%, and a crowded lightweight-jewelry segment where Tanishq's Mia, BlueStone, GIVA, Senco (through its Melorra stake) and regional chains are all expanding. It also has to keep new franchise stores profitable while adding about 50 stores a year.
Avnish Anand co-founded CaratLane and was its CEO from August 2023, after Titan Company bought out co-founder Mithun Sacheti, until 2024. Titan then appointed Saumen Bhaumik, head of its eyecare division, as managing director.
Avnish Anand was CaratLane's first employee in 2008 and served in various executive capacities over 15 years, including Head of Product, Chief Operating Officer, and Chief Strategy Officer, orchestrating CaratLane's omnichannel transition and store network rollout.
Mithun Sacheti is the founder and former Managing Director/CEO of CaratLane. Coming from a heritage jewelry family (Jaipur Gems), Sacheti pioneered online diamond retail in India in 2008, guided CaratLane through multiple funding rounds, and oversaw its partnership with Titan.
Mithun Sacheti and his family sold their remaining 27.18% stake in CaratLane to Titan Company for 4,621 crore rupees ($555M USD) in August 2023, marking the second-largest e-commerce founder exit in Indian startup history after Flipkart.
During the 2020 lockdowns, CaratLane leadership accelerated WhatsApp-based live video shopping, launched the CaratLane LIVE digital shopping studio, and scaled doorstep Try at Home protocols, driving record online sales and rapid post-lockdown store recoveries.
Avnish Anand's vision focuses on expanding the retail footprint to over 400 stores across India, deepening design innovation in daily-wear solitaires, scaling the Shaya silver brand, and driving international retail growth among the global Indian diaspora.
CaratLane operates as an autonomous business unit within Titan Company, with executive leadership reporting to Titan's Managing Director and Board of Directors, ensuring agility while leveraging Tata's corporate governance and capital support.
CaratLane leadership has been recognized with multiple Retailer of the Year awards, ET Startup of the Year honors, and omnichannel retail leadership citations from the Gem and Jewellery Export Promotion Council (GJEPC) and Retail Jeweller India.
Avnish Anand currently serves as the CEO. He was actually the company's first employee, eventually taking over leadership after founder Mithun Sacheti fully exited the business in 2023.
Compare executive leadership tenures and strategic transitions
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