Mithun Sacheti is a famous Indian businessman. He is the co-founder and managing director of CaratLane, India’s first online jewelery store. Mithun is also certified in gemological studies by the Gemological Institute of America (GIA).
Wiki/Biography
Mithun Sacheti was born on Thursday, January 26, 1978, in Mumbai, India (age 45 years 2023). His zodiac sign is Aquarius. After completing his schooling, he joined Sydenham College of Commerce and Economics, Mumbai where he obtained a Bachelor of Commerce degree. In 2010, Mithun Sacheti enrolled at the Indian Institute of Management, Bangalore. He later earned Professional Gemologist certification from the Gemological Institute of America (GIA) in California.
Young Mithun Sacchetti
appearance
Hair color: black
Eye color: black
family
Mithun Sacheti comes from a wealthy family in Mumbai.
Parents and siblings
His father Padam Sacheti is a famous jeweler 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 and 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
Profession
His parents founded Jaipur Gems jewelry store in Mumbai in 1974.
jaipur gemstone logo
In 2000, Mithun Sacheti opened his Jaipur Gem Shop in Chennai. Later, in 2008, Mithun and Avnish Avnand founded an online jewelry store called CaratLane. They wanted to provide jewelry that people could easily purchase at a great price. Later, Carat Lane became a brand with both online and physical stores in cities such as Bangalore, Delhi NCR, Hyderabad, Coimbatore, and Chennai.
A branch at Carat Lane, Mumbai
CaratLane is a subsidiary of Titan, the jewelery and watches business of the Tata Group. In August 2023, Titan’s shareholding increased from 71.09% to 98.28%. Titan purchased approximately 62% ownership of CaratLane in 2016 from its early investor Tiger Global. In August 2023, Titan announced on its website that it would acquire Mithun Sacheti’s Carat Lane, increasing its ownership by 27.18%. Following the signing of the agreement, Mithun Sacheti and his company received approximately Rs. 46.21 Crore in cash. With this transaction, Titan becomes the owner of 98.28% of CaratLane. According to reports, this is the second largest founder exit after Flipkart’s Sachin Bansal and Binny Bansal.
CaratLane partners with Tata’s TaniSHQ
net worth
In 2023, Carat Lane’s net worth is estimated to be approximately $2 billion.
Favorites
- Song: Billy Joel’s Piano Man
Facts/Trivia
- His relatives also gave him the nickname “Mickey”.
- In her spare time, Mithun Sacheti enjoys traveling to faraway places and reading jewelry-related books.
- Mithun Sacheti said that in the early years of his business, his target customers were young women who were independent and able to manage their own money.
- In 2015, Mithun Sacheti told a media outlet that he wanted to find a new way to make his business successful. Then he discovered that using the Internet to connect with customers was the best idea. He said,
I’m a store owner and that’s where I started. I decided I had to do something different. The best way to do this is on the Internet because you can reach more people online than anywhere else. On the Internet, people can discover a variety of products for their homes. The more they see, the more they buy. “
CaratLane Online Product Snippet
- In February 2023, Mithun Sacheti recalled having dinner with Rakesh Jhunjhunwala, a well-known Indian businessman, in a media conversation. Mithun Sacheti said the dinner inspired him to start his own company, CaratLane. This decision subsequently brought him great success.
- Mithun Sacheti is often spotted consuming alcoholic beverages on various occasions.
Mithun Sacheti (right) poses with a bottle of beer
Categories: Biography
Source: HIS Education