CaratLane to invest huge in branding and opening new stores

Jewellery retailer CaratLane plans to spend Rs 40 crore on television and print marketing campaigns in the next one year and invest another Rs 20 crore in increasing the number of brick-and-mortar stores threefold. The Chennai-based company, which launched its mobile app, started out as an online retailer in 2008 and later set up physical stores as well. It operates 10 such stores of about 700 sq ft each in Gurgaon, Mumbai and Chennai. In the next one year, the company is planning to open 20 new stores in Tier II cities such as Ahmedabad, Coimbatore, Bhubaneswar and Kolkata. No doubt, this is a big opportunity which signage players engaging in in-shop designs, displays, branding and related activities would able to embark upon for new projects.