Mithun Sacheti, is the Founder, and erstwhile CEO/ Managing Director of CaratLane, which he founded in 2008. Over the past 15 years, he built CaratLane into India’s No. 1 omni-channel jewellery business spawning an entirely new market for beautifully stylish designs at affordable price points. As a result, CaratLane has had a remarkable growth story, culminating in a net revenue of over 2200+ crores and a 5-year CAGR of 50% in FY23. It stands unparalleled in having achieved both high growth and high efficacy at the same time.
Under Mithun’s guidance, CaratLane secured a strategic investment from Titan Company Limited, custodians of India’s trusted Tanishq brand, positioning CaratLane as India’s quintessential 21st-century jewellery brand. Very recently, Mithun sold his remaining 27% stake to Titan for Rs 4,621 crore, valuing the brand at INR 17,000 crore, making it India’s biggest deal in the D2C e-commerce space, rewriting the narrative of the jewellery industry in India.
Post exit, Mithun Sacheti wants to be an enabler for other entrepreneurs. He understands the consumer business space deeply and is keen to explore related opportunities.
Currently, Mithun is mentoring the ORO Team. Oro, (which means “GOLD” in Spanish.) has a vision of making gold in Indian households more valuable and fungible. Being founded in April 2020, it connects financial institutions with users to provide higher access and the right information at lower cost thereby helping people realise their dreams through gold loans.
Also, very recently, Mithun joined Singularity AMC as a Co-Founder & General Partner. Singularity AMC undertakes Private Equity Investments across Growth to late Stage Indian Companies. It’s first fund of Rs. 560 Cr. was launched in 2021, with a final close in March 2023. The fund invested in 16 companies across consumer goods, enterprise SaaS and fintech infra platforms.
Mithun’s remarkable contributions have earned him recognition on both national and international levels. He has been featured on the cover of Forbes and has received awards such as the ‘Next-Gen Entrepreneur of the Year’ by TiE in 2012 and 2023, ‘Entrepreneur of the Year’ by the Confederation of Indian Industry Connect in 2014, and many other such recognitions which reflect his commitment towards understanding and empowering customers, and building lasting businesses.
Mithun is a certified gemologist from the Gemological Institute of America (GIA) and someone who identifies as a “jewellery nerd.” His passion for design and craftsmanship along with design innovation and customer-focused approaches, coupled with the “right rigour” and the “right team” always having his back is what makes Mithun Sacheti who he is!
