CaratLane vs Malabar Gold and Diamonds: Founders, CEOs and History
CaratLane was founded in 2008 by Mithun Sacheti, Srinivasa Gopalan and is led by Saumen Bhaumik. Malabar Gold and Diamonds was founded in 1993 by M.P. Ahammed and is led by M.P. Ahammed.
Company facts
CaratLane
- Founded
- 2008
- Headquarters
- Chennai, Tamil Nadu, India
- Current CEO
- Saumen Bhaumik
- Employees
- 2,800
Malabar Gold and Diamonds
- Founded
- 1993
- Headquarters
- Kozhikode, Kerala, India
- Current CEO
- M.P. Ahammed
- Employees
- 21,000
Founders
CaratLane
Mithun Sacheti
Mithun Sacheti co-founded CaratLane in 2008 alongside IT entrepreneur Srinivasa Gopalan, with the radical vision of selling fine jewelry online in India, a concept many industry veterans deemed impossible due to the high-trust nature of the category.
Srinivasa Gopalan
Srinivasa Gopalan co-founded CaratLane with Mithun Sacheti in 2008 and was responsible for building its early e-commerce platform, catalog and fulfillment systems, which let the company sell certified diamond jewelry online in India before most shoppers truste…
Malabar Gold and Diamonds
M.P. Ahammed
M.P. Ahammed is the founder and chairman of Malabar Group. A former spice and copra trader from Kozhikode, he opened the first Malabar Gold showroom there in 1993 with relatives and co-investors.
CEOs and their tenures
CaratLane
- Mithun Sacheti2008–2023
Founder & Managing Director
A certified gemologist from a traditional jewelry family, Sacheti disrupted India's fragmented gold jewelry industry by introducing accessible, lightweight daily-wear diamond designs.
Source - Avnish Anand2023–2024
Co-founder & CEO
Joined CaratLane in 2008, returned in 2015 as head of product, and was named co-founder in 2016 and COO in 2021.
Source - Saumen Bhaumik2024–present
Managing Director
A long-time Titan executive who previously led the group's eyecare business.
Source
Malabar Gold and Diamonds
- Shamlal Ahamed
Managing Director, India Operations
Oversees expansion beyond southern India into northern, western and eastern states.
Source - O. Asher
Managing Director, International Operations
Runs the international network of more than 150 stores.
Source - M.P. Ahammed1993–present
Founder & Chairman, Malabar Group
Grew Malabar from one Kozhikode store into a chain of 425+ showrooms in 14 countries with about $7.31 billion (₹63,000 crore) turnover in FY2024-25.
Source
Timeline: CaratLane and Malabar Gold and Diamonds side by side
1993Malabar Gold and Diamonds
First Showroom Opens in Kozhikode, Kerala: M.P. Ahammed and founding partners establish the first Malabar Gold showroom in Kozhikode with 50 lakh in capital, introducing transparent gold purity practi…
2000Malabar Gold and Diamonds
Pioneering 100% BIS Hallmarked Jewellery: Becomes one of the first jewellers in India to sell exclusively Bureau of Indian Standards (BIS) hallmarked 916 gold, years before hallmarking was legally man…
2008CaratLane
Mithun Sacheti and Srinivasa Gopalan incorporate CaratLane in Chennai in October.
2008Malabar Gold and Diamonds
Inauguration of First International Store in Dubai: Malabar Gold opens its first international showroom in the historic Dubai Gold Souk, UAE, commencing its multi-billion-dollar Middle Eastern expansi…
2011CaratLane
Tiger Global leads a $10 million Series A funding round to accelerate e-commerce technology.
2012CaratLane
Launches the groundbreaking 'Try at Home' service and opens first physical store in Delhi.
2013Malabar Gold and Diamonds
Entry into Singapore and Malaysia: Expands into Southeast Asia with flagship showrooms on Little India's Serangoon Road in Singapore and Jalan Masjid India in Kuala Lumpur.
2015CaratLane
Tiger Global increases investment to $50M total; CaratLane expands to 10 physical stores.
2016CaratLane
Titan Company (Tata Group) acquires a 62% controlling stake for 357 crore.
2018Malabar Gold and Diamonds
Debut in the United States: Opens its first North American showroom in Chicago (Devon Avenue), followed by expansions into Dallas, New Jersey, and Artesia (Los Angeles).
2019CaratLane
Reaches 100 physical stores across India; launches Shaya handcrafted silver jewelry.
2020Malabar Gold and Diamonds
Launch of 'One India One Gold Rate' Campaign: Introduces uniform gold pricing across all Indian states, ending state-level price discrepancies and giving consumers complete price certainty.
2023CaratLane
Titan buys Mithun Sacheti's remaining 27.18% stake for ~$536 million (₹4,621 crore); Avnish Anand becomes CEO.
2023Malabar Gold and Diamonds
Launch of First UK Showroom in London: Inaugurates its flagship UK store on Green Street, London, marking Malabar's official retail entry into the European continent.
2024CaratLane
Avnish Anand steps down as CEO in August; Saumen Bhaumik becomes managing director in October, and the first US store opens in New Jersey.
2024Malabar Gold and Diamonds
FY2023-24 Turnover Passes ₹50,000 Crore: reports ~$5.94 billion (₹51,218 crore) global retail turnover with 345 stores in 13 countries.
2025CaratLane
FY25 revenue reaches ~$416 million (₹3,583 crore); store count hits 322 across 139 cities by March 2025.
2025Malabar Gold and Diamonds
400th Showroom Opens in Noida: targets ~$9.05 billion (₹78,000 crore) turnover for FY2025-26.
2026CaratLane
FY26 revenue reaches about $544 million (₹4,690 crore) with EBIT of ~$54.1 million (₹466 crore); Titan targets 2.3x revenue by FY30.
2026Malabar Gold and Diamonds
Passes 425 showrooms and announces 20 new Indian stores for ~$183 million (₹1,580 crore).
Questions about CaratLane vs Malabar Gold and Diamonds
Who is the CEO of CaratLane and Malabar Gold and Diamonds?
CaratLane is led by Saumen Bhaumik and Malabar Gold and Diamonds is led by M.P. Ahammed. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was CaratLane founded vs Malabar Gold and Diamonds?
Malabar Gold and Diamonds was founded in 1993 — 15 years before CaratLane, which was founded in 2008. Malabar Gold and Diamonds's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger CaratLane.
How many employees does CaratLane have compared to Malabar Gold and Diamonds?
CaratLane employs approximately 2,800 people, while Malabar Gold and Diamonds employs approximately 21,000. Malabar Gold and Diamonds has the larger workforce at 21,000 employees, compared to CaratLane's 2,800. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are CaratLane and Malabar Gold and Diamonds headquartered?
Both CaratLane and Malabar Gold and Diamonds are headquartered in India, meaning they operate under the same primary regulatory and tax environment.
Who founded CaratLane and Malabar Gold and Diamonds?
CaratLane was founded by Mithun Sacheti, Srinivasa Gopalan. Malabar Gold and Diamonds was founded by M.P. Ahammed.
Which company has a longer operating history — CaratLane or Malabar Gold and Diamonds?
Malabar Gold and Diamonds has been operating for approximately 33 years, making it the more established of the two companies. CaratLane has been in operation for around 18 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the CaratLane vs Malabar Gold and Diamonds overview