Mithun Sacheti Net Worth – Mithun Sacheti is co-founder and managing director of CaratLane, India’s first online jewelry store. He is a renowned Indian businessman who is also certified in gemology from the Gemological Institute of America (GIA).
In 2000, Mithun Sacheti opened a Jaipur Gems store in Chennai, and in 2008, he co-founded CaratLane with Avnish Avnand, an online jewelry store that aimed to offer affordable and accessible jewelry.
CaratLane grew to have physical and online stores in various cities, and in 2016, Titan bought a 62 percent ownership stake in the company.
In 2023, Titan increased its ownership to 98.28 percent, acquiring CaratLane for Rs. 4621 crores and making it the second-largest exit by a founder, after Flipkart’s Sachin and Binny Bansal.
Mithun Sacheti Net Worth
Mithun Sacheti, a founder of CaratLane, sold a 27.18% stake after the Titan deal. The company’s valuation reached Rs 17000 crores.
After the takeover, CaratLane’s net worth will exceed $2 billion (Rs 17,000 crore). Upon closing, Titan’s stake in the company will increase from 71.09% to 98.28%.
This is the second most significant founder of CaratLane after Sachin Bansal, founder of Flipkart. Titan now holds a 98.28 percent stake in CaratLane after Sacheti sold his 27.18 percent stake for Rs 4621 crore.
Titan is buying 91.90 lakh equity shares of CaratLane, increasing its ownership to 98.28%. They were previously at a deadlock over Sacheti’s ownership valuation.
As of 2023, Cartlane founder Sacheti’s net worth is around $2 billion, making him close to becoming a billionaire.
CaratLane is an Indian jewelry retailer founded in 2008 by Mithun Sacheti and Srinivasa Gopalan. CaratLane has 130 stores across 36 cities in India. It started as an online retailer and opened its first physical store in Chennai.
In July 2016, it became a subsidiary of Titan Jewellery and is now marketed as a partnership with Tanishq.
Mithun Sacheti Family
Mithun Sacheti is the son of Jaipur Gems’ founders, Padam Sacheti and Manju Sacheti. He is married to Anjali Rawat Sacheti and has two children, Raghav Sacheti and Mira Sacheti. Mithun Sacheti Net Worth Mithun Sacheti Net Worth Mithun Sacheti Net Worth
He comes from a wealthy family. His parents founded Jaipur Gems in Mumbai in 1974. His father, Padam Sacheti, established the first store in a rented industrial compound in Glaxo Worli.
Mithun Sacheti Early Life And Biography
Mithun Sacheti was born on 26 January 1978, in Mumbai, Maharashtra, India. He is the co-founder of a Chennai-based company, Caratlane. He is well educated. After completing his Commerce degree at Sydenham College of Commerce and Economics in Mumbai, Maharashtra, India.
Mithun Sacheti pursued a master’s degree from the prestigious Indian Institute of Management in Bangalore. Mithun Sacheti Net Worth Mithun Sacheti Net Worth Mithun Sacheti Net Worth
He then traveled to California to become a certified gemologist at the Gemological Institute of America in the United States.
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