Mithun Sacheti is a renowned Indian businessman. He is the co-founder and managing director of CaratLane, India’s first online jewellery store. Mithun is also certified in studying gems from the Gemological Institute of America (GIA).
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Wiki/Biography
Mithun Sacheti was born on Thursday, 26 January 1978 (age 45 Years; as of 2023) in Mumbai, India. His zodiac sign is Aquarius. After completing his school education, he joined Sydenham College of Commerce and Economics in Mumbai to earn a bachelor’s degree in commerce. In 2010, Mithun Sacheti attended the Indian Institute of Management in Bangalore. Later, he earned a professional gemologist certification from the Gemological Institute of America, California (GIA).
A young Mithun Sacheti
Physical Appearance
Hair Colour: Black
Eye Colour: Black
Family
Mithun Sacheti comes from a rich family in Mumbai.
Parents & Siblings
His father, Padam Sacheti, is a well-known jeweller in Mumbai. His mother, Manju Sacheti, is a businesswoman. His brother, Siddhartha Sacheti, works in his father’s business.
Mithun Sacheti with his parents and brother
Wife & Children
His wife’s name is Anjali Rawat Sacheti. The couple has a daughter named Mira Sacheti, and a son named Raghav Sacheti.
Mithun Sacheti with his wife, Anjali Sacheti, and children
Career
His parents started Jaipur Gems, a jewellery store in Mumbai in 1974.
The logo of Jaipur Gems
In 2000, Mithun Sacheti opened his own Jaipur Gems store in Chennai. Then, in 2008, Mithun and Avnish Avnand started an online jewellery store called CaratLane. They wanted to offer jewellery that people could buy easily and at a good price. Later, CaratLane became a brand that had both online and physical stores in Bengaluru, Delhi NCR, Hyderabad, Coimbatore, Chennai, and other cities.
An outlet of Carat Lane in Mumbai
CaratLane is a subsidiary company of Titan, a jewellery and watch business owned by Tata Group. Titan’s ownership increased from 71.09 per cent to 98.28 per cent in August 2023. Titan bought around 62 per cent ownership of CaratLane in 2016 from its earlier investors, Tiger Global. In August 2023, Titan shared on its websites that it will acquire Mithun Sacheti’s CaratLane, increasing its ownership by 27.18 per cent. After the agreement, Mithun Sacheti and his company received around Rs. 4621 crores in cash. With this deal, Titan became the owner of 98.28 per cent of CaratLane’s shares.
CaratLane in partnership with Tata’s TaniSHQ
Net Worth
In 2023, the net worth of CaratLane was estimated at approximately $ 2 Billion.
Favourites
- Song: Piano Man by Billy Joel
Facts/Trivia
- He is also called by the nickname Micky by his loved ones.
- In his leisure time, Mithun Sacheti likes travelling to distant places and reading books related to jewellery.
- During the initial years of his venture, according to Mithun Sacheti, his targeted customers were young women who were independent and could manage their money on their own.
- In 2015, Mithun Sacheti said during an interview with a media house that he wanted to find a new way to make his business successful. He then discovered that using the internet to connect with customers was the best idea. He said,
I was a shopkeeper, I started from there. I decided I had to do something differently. The best way to do that was on the internet because you could reach more people online than anywhere else. On the Internet, people can discover a gamut of products sitting in their own homes. And the more they see, the more they buy.”
A snippet of online products by CaratLane
- In February 2023, Mithun Sacheti remembered having dinner with Rakesh Jhunjhunwala, a famous Indian businessman, in a media conversation. Mithun Sacheti said that this dinner motivated him to start his own company, CaratLane. Subsequently, this decision turned out to bring him a lot of success.
- Mithun Sacheti is often spotted consuming alcoholic beverages on various occasions.
Mithun Sacheti (right) posing with a bottle of beer
Categories: Biography
Source: vcmp.edu.vn