Mr.Avnish Anand, Co-founder of CaratLane, has been appointed as the startup’s new CEO.
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Mr.Avnish Anand, the co-founder of CaratLane has been appointed as the incipiency’s new CEO. The decision comes just days after his Co-founder and former boss, Mithun Sacheti, made a remarkable exit by dealing his CaratLane shares to Titan.
Last week, Titan, which formerly held 71.09 percent in CaratLane, said it would increase its stake to 98.28 percent by buying out Sacheti’s 27.18 percent share in the online jewelry retailer for Rs 4,621 crore. The deal valued CaratLane at Rs 17,000 crore. It also marked the second biggest e-commerce exit in India, just after Walmart’s $ 16 billion deal for Flipkart which gave both authors, Sachin Bansal and Binny Bansal, over $ 1 billion each.
About a week after Sacheti’s exit, Anand has now been promoted from his former part as the Chief Operating Officer( COO) of CaratLane. “ Avnish( Anand). was the No. 1 employee at CaratLane and an integral part of the founding platoon. He has played an important part in structuring CaratLane into what it is at the moment, ” the company said in a statement.
