Tata Group-backed CaratLane is preparing for its next phase of retail growth, with plans to add around 40 new stores across India in FY27.

The move reflects a measured expansion strategy, rather than aggressive scaling—something worth noting for brands and entrepreneurs in the jewelry industry.

Current Position → Where It’s Heading

→ Current store count: ~369 stores
→ Planned additions (FY27): +40 stores
→ Company-owned share: ~10% of new stores
→ Existing company-owned stores: ~13%

This indicates that CaratLane continues to rely heavily on a franchise-led model, while selectively increasing company ownership.

Region-wise Expansion Strategy:

North, East, South India → Primary focus
→ West India → Limited expansion

Instead of adding more stores in the west, the brand is focusing on:
→ Improving performance of existing stores
→ Driving higher efficiency per outlet

This shift shows a “depth over spread” approach—optimizing existing markets before expanding further.

What This Means for the Jewelry Industry

1. Retail is still critical—even in a digital-first brand
CaratLane started as an online-first brand, but continued store expansion shows that physical retail remains essential for jewelry buying behavior.

2. Smart expansion > fast expansion
Instead of opening stores everywhere, the focus is on:
→ Location selection
→ Store productivity
→ Regional demand

3. Franchise model continues to dominate
With only ~10% company-owned new stores, the brand reinforces how scalable growth in jewelry retail often depends on partnerships.

4. Opportunity beyond metros
Focus on North, East, and South signals rising demand in emerging and underpenetrated markets.

CARATLANE'S STRATEGY REMAINS STRAIGHTFORWARD-
"Expand where demand is growing, and improve the performance of existing stores".