On Monday, online jeweller CaratLane announced the addition of their early employees as co-founders of the business.
While speaking to YourStory, Mithun explains the reason behind the decision. He says,
On leaving the business, the contribution someone makes to the business is also outdated. So the logic was, how do we ensure that their contribution to the business is valued and remembered? That’s where the title of co-founder comes in. Both Guru and Avnish have been a part of the business right from the start, building the business with us. Further, they are also the pillars of the company, who everyone goes to in case of any difficulty. They are as important to the business as I am.
But after eight years of existence (CaratLane was founded in 2008), why was the decision made now? To this, Mithun says it took two years to convince the board about the decision. The announcement was made internally a couple of months ago.
In their present roles, Avnish looks over the Mumbai office, taking care of the commerce end or profit and loss activities of the firm; Guru manages HR, technology and fulfilment for the business; while Mithun concentrates on the product (manufacturing and merchandising of jewellery) as well as the finances.
According to Mithun, the top 15 members of the company are all shareholders. With their offices in Mumbai and headquarters in Chennai, CaratLane is a team of more than 400 employees.
In May, the news came out that Titan was all set to acquire a majority stake in the online jeweller. It was confirmed last week that the Tata group subsidiary is acquiring 62 percent stake in the company. However, Mithun says that there is no connection between the Titan deal and the recent addition of the co-founders.
Tarush is driven towards delivering unbiased and accurate reportage while engaging with as many mediums as possible to narrate a fresh perspective. Working for the past few years in the digital space with YourStory, he has covered the Indian technology ecosystem extensively, focusing on new age Fintech companies, while building strong connects within the industry.