Online jewellery seller Caratlane expects to report profits in the next two years, by when it sees its revenues to touch Rs 500-600 crore. In FY14, the e-tailer made a loss of Rs 38 crore on a revenue of Rs 140 crore.
The company did not disclose its financials for FY15. “We have controlled operation in terms of stock-keeping unit to the number of employees. For instance, we do not allow the stock-keeping units (skus) to go beyond 3,500-4,000 per month.
Similarly, we have 300 people working with us, including the staff at our stores across the country, and plan to hire gradually depending on the number of stores we launch in the future,” said Mithun Sacheti, co-founder and CEO, Caratlane.com.
The e-tailer, which generates 60% of its orders from the top four metros, including Mumbai, Delhi, Chennai and Bangalore, plans to open 30 stores in a year. Currently, it runs 10 stores across India. According to Sacheti, the e-tailer will introduce the try and buy delivery option in 20 cities. Under this, an assortment of jewellery selected by the consumer is taken by the e-tailer’s delivery boy. The customer then tries on the jewels and purchases them.