Understand consumer needs in a great conversation with Avnish Anand, Co-Founder of CaratLane.
“The chance never goes to zero, it just gets more difficult” – Avnish Anand
Avnish Anand is the co-founder of CaratLane. He has spent most of his professional life in the internet industry, working in both e-commerce and classifieds. His experience and achievements speak not only for two start-ups that were already active at a young age, but also for the establishment of new companies on the Times Internet. Avnish has a broad range of expertise in almost every aspect of building and running various types of consumer internet business. He describes himself as a product and business specialist.
CaratLane: jewelry selection made by the customer.
CaratLane is a well-known jewelry brand that has made a name for itself in the Indian household. It’s an omnichannel brand that makes contemporary jewelry affordable, accessible, and wearable forever. It has retail stores in Delhi, Mumbai, Thane, Bengaluru, Chennai, Hyderabad, Pune, Chandigarh and Coimbatore, as well as a familiar online presence. Caratllane is a complete jewelry shopping experience that will make occasions more eventful and fun.
A look into a stormy conversation.
The conversation started with Avnish sharing his journey from the founding of CaratLane to where it is today. It happened 13 years ago when his former business partner and founder of the company, Mithun Sacheti, saw a tremendous force exerted by the growing technology that was to beat the jewelry industry. It all started here. The company was built on the foundations of dealing with problems that could be addressed.
Not only has the company been warmly welcomed by the Indian people, it has found the right place and got off to a good start.
As we spoke, Avnish explained how Caratlane was changing the way jewelry was bought in the country. In a context where jewelry is bought on special occasions, which also costs a fortune, the company was able to close that cycle by introducing a cheaper jewelry line suitable for buyers of all occasions, big or small. That’s because occasions aren’t just celebrations or marriages, but also in the simpler things in life, such as getting your kids to get their first job or finally getting a seat at a top university.
“There’s always an opportunity when you’re more agile, a little harder than anyone else.”
The company is known for its consumer-centric development and is expanding its own capabilities to address the problems in the marketplace. When the conversation reached its impeccable end, Avnish shifted our minds to the idea of virtual reality, where he felt that it is an immense pleasure just to look at the jewelry that cannot be felt or repeated anywhere else. He believes that “technology has not yet reached a level where you can have a great experience today”. From recovering in a declining economy to competing with international brands, this conversation covers everything.
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