"We expect growth to be well ahead of the industry average this year. We are looking at doubling our business in the current financial year. Our growth will be driven by increasing our online transactions as well as by opening more retail stores," CaratLane CEO and Co-founder Mithun Sacheti.

He said the company currently has 16 retail stores -- including in Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, Chandigarh, Pune and Coimbatore -- and is planning to role out 30 more stores by the end of this financial year. "Our retail stores are very different from the typical Indian jewellery stores that are elitist by nature. Our stores are designed for the customer who walks into a mall or a duty-free shop. There is no glass and you can walk right up to the products. One can touch, feel and experience the jewellery without any pressure," he added.