Tata group–backed jewellery retailer CaratLane has strengthened its senior leadership by appointing Jigar Vyas as its new Chief Financial Officer, a move that comes as the omni-channel brand continues to expand its footprint across India’s organised jewellery market.
In his new role, Vyas will lead CaratLane’s finance and accounting functions, with a mandate that spans financial planning, capital allocation, governance, risk management, and internal controls. He will work closely with the company’s leadership team to support scale-led growth while ensuring tighter cost discipline and long-term financial sustainability.
Vyas brings more than 16 years of experience across business finance and commercial strategy, with exposure to both large corporates and high-growth consumer brands. Before joining CaratLane, he held senior finance roles at ITC Ltd, market research firm Nielsen, and beauty and personal care brand SUGAR Cosmetics. Across these organisations, he has led finance operations covering budgeting, forecasting, performance management, cost optimisation, and compliance across multiple geographies.
At SUGAR Cosmetics, Vyas played a key role in supporting rapid scale-up, managing finance operations in a fast-evolving direct-to-consumer environment. His earlier stints at ITC and Nielsen provided experience in managing complex financial structures, large teams, and data-driven decision-making in established enterprises.
The appointment comes at a time when CaratLane is reporting robust growth. In the second quarter of FY26, the company posted revenue of Rs 1,072 crore, marking a year-on-year increase of over 32 percent compared to Rs 811 crore in the same period last year. The performance reflects steady demand across both online and offline channels, supported by network expansion, marketing investments, and a growing customer base.
CaratLane operates at the intersection of digital retail and physical jewellery stores, positioning itself as a modern, accessible alternative in a traditionally fragmented market. With Vyas stepping into the CFO role, the company is expected to sharpen its focus on financial efficiency as it pursues its next phase of growth under the Tata Group umbrella.
