CaratLane appoints Jigar Vyas as CFO amid strong growth

Tata-owned omni-channel jewellery brand CaratLane on Monday announced the appointment of Jigar Vyas as its Chief Financial Officer, as the company looks to strengthen its financial leadership amid rapid expansion.

In his new role, Vyas will lead CaratLane’s finance function and support the brand’s next phase of growth, focusing on financial strategy, capital efficiency, governance and internal controls. He will work closely with the leadership team to align financial decision-making with long-term business objectives while maintaining financial discipline.

Vyas brings over 16 years of experience across business finance, commercial strategy and large-scale operations. Prior to joining CaratLane, he held senior leadership positions at ITC Ltd, Nielsen and SUGAR Cosmetics, where he managed diverse market portfolios and led large teams.

Throughout his career, Vyas has worked extensively across sales finance operations, financial planning and analysis, capital raising and cost optimisation, while also strengthening governance frameworks and improving operational efficiencies. His experience spans both scaled enterprises and fast-growing consumer brands.

“I look forward to working closely with the leadership team to strengthen financial foundations, enable disciplined growth, and support the brand’s long-term value creation as it continues to scale,” Vyas said.

The appointment comes at a time of strong financial performance for CaratLane. The company reported revenue of Rs 1,072 crore in Q2 FY26, marking a year-on-year growth of over 32% from Rs 811 crore in the corresponding quarter last year.

Earnings before interest and tax (EBIT) surged 78% to Rs 109 crore from Rs 61 crore in Q2 FY25, while EBIT margins expanded by 262 basis points year-on-year to 10.1%.

During the quarter, CaratLane added 10 new stores, taking its total retail footprint to 341 outlets across 149 cities across India.