New Delhi, May 27 -- New Delhi: Titan Company Ltd-backed diamond retailer CaratLane will open 40 stores this fiscal year, less than the 50 outlets launched in the previous fiscal year.

"We would not be rushing our expansion because we are still a diamond-centric retail outlet and we will go by our experience," said Saumen Bhaumik, CEO and managing director of CaratLane. "There's a very robust system based on how many people search for us, how many orders we get. Plus, we also started physical roadshows. All of these help us decide which are our next markets. I think about 40 to 50% of the stores will probably be in the existing cities."

The retailer's total income increased 23% year-on-year to Rs.883 crore in the March quarter. Revenue ...