CaratLane, the jewelry brand owned by Titan Company, did really well in the third quarter of FY26. It’s becoming known as one of the best and most profitable direct-to-consumer jewelry brands in India. They reported revenue of ₹1,537 crore in Q3 FY26, which is a 42% jump from the ₹1,117 crore they made in the same quarter last year, according to Titan Company.
Things really picked up for CaratLane compared to the previous quarter. Revenue went up by 43.37% from ₹1,072 crore in Q2 FY26. This shows that people were buying more jewelry because of the holidays and weddings, and that CaratLane’s direct-to-consumer strategy is working. This performance puts CaratLane up there with the top direct-to-consumer brands in India for FY26, especially in the high-end jewelry market.
Profits also got better during the quarter. CaratLane’s EBIT went up by 52.67% compared to last year, reaching ₹200 crore, up from ₹109 crore in Q3 FY25. EBIT margins went up to 13%, which is up from 10.1% a year ago. This is because they managed costs well and people were buying more expensive items. This shows that CaratLane is growing in a way that makes money, not just in sales.
Titan said that its jewelry business, with CaratLane at the head, had a great quarter, which was helped by the holiday season. Exchange programs, wedding purchases, holiday collections, and good deals on coins kept customers interested. These things also fit with what people in India want from direct-to-consumer brands: trust, good value, and brands that they like.
CaratLane’s studded jewelry sales went up by 35% compared to last year, which was helped by special deals for customers. Titan said that deals that included gold coins were popular with customers, which helped them sell more and increase the amount people spent. This shows that they know what gets people interested in direct-to-consumer brands.
In the last quarter, CaratLane opened 24 new stores in India, bringing the total to 365. This supports their plan to grow their direct-to-consumer business by mixing online shopping with physical stores that people trust. This model is becoming common in India for expensive items like jewelry.
Titan also started a new brand of lab-grown diamonds called beYon during the quarter. But they made it clear that this would not change CaratLane’s main focus. CaratLane will still be the brand that people go to for important purchases that they want to remember, offering value, real products, and style. This shows that CaratLane is a strong brand that Indian customers trust.
CaratLane, which was started in 2008 by Mithun Sacheti and Srinivasa Gopalan, was one of the first to sell jewelry both online and in stores in India. Titan bought a majority stake in 2016, and then bought another 27.18% in 2023 for ₹4,261 crore, which valued CaratLane at ₹17,000 crore. In 2024, Titan bought the remaining 0.36% for ₹60.08 crore, making CaratLane a fully owned part of the company.
Now, CaratLane is up against older companies like Kalyan Jewellers and Malabar Gold, as well as newer direct-to-consumer startups like BlueStone and GIVA. Its Q3 FY26 performance shows that it’s a leader in the Indian direct-to-consumer market. Its success shows that it’s possible to grow, make a profit, and sell both online and in stores in the high-end consumer market.
