CARATLANE LAUNCHES THE WORLD’S FIRST VIRTUAL JEWELLERY TRY-ON APP

Women Can Now Try-Out Thousands of Pieces of Jewellery With

The World’s First True 3D Virtual Jewellery Try-On App

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NEW DELHI, AUGUST 20, 2015: In keeping with its mission of democratizing purchase of jewellery, CaratLane today unveiled the next step in discovery of jewellery with the launch of the CaratLane App that delivers the world’s first true 3D virtual jewellery try-on experience. The CaratLane App uses cutting edge facial recognition technology and 3D imaging technologies to provide a life-like immersive try-on experience.

The CaratLane App will enable customers to discover thousands of jewellery designs, try on earrings and buy jewellery. This would be shortly followed by try-on features for other products soon.

The key USP of the CaratLane app is the 3D Virtual jewellery Try-on feature where the app takes a video of the user and then using 3D imaging technologies, generates a 3D view of the customer wearing CaratLane earrings. The user can swipe to look at her face from one side to the other to get an idea of how she looks wearing those earrings. Customers can make a purchase through COD,credit card, debit card and net banking. Moreover, they can request for a home trial of a product they like. They can also share a photo of themselves trying on earrings, with their friends on WhatsApp, Facebook etc. CaratLane expects the App to contribute 30 to 40 per cent of its overall business within the next six months.

According to Mithun Sacheti, Co-founder and CEO of CaratLane, “We want to help our customers discover theperfect piece of jewellery that is right for them. With the CaratLane app they will be able to browse through 1000’s of earrings and see exactly how it would look on them, before deciding to buy. They can also share their favourite looks on Facebook, Whatsapp and Twitter. We believe that the app by itself will be an addictive expereince for women and that it will transform the way jewellery shopping is done in india.”

ATT00013CaratLane is today India’s largest online jeweller – with over 100,000 customers and deliveries across 150 cities. CaratLane has rapidly increased its offline presence and now has 10 stores across 7 cities including Delhi, Bangalore, Chennai and Hyderabad. The company’s Try At Home channel caters to 20 cities across India.

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CaratLane offers customers prices that are up to 30% lower than other retailers because of a number of factors including:

Limited “just-in-time” inventory policy helps make our processes more cost efficient.

Low overheads when compared to brick-and-mortar stores.

Sourcing directly from over 4,000 diamond vendors around the world, thus eliminating multiple levels of intermediaries and allowing us to negotiate better prices.

State-of-the-art, in-house manufacturing facility.

ABOUT CARATLANE

CaratLane.com is India’s largest online jewellery retailer of diamonds and gemstone jewellery,
solitaires and gold coins. CaratLane is changing the traditional codes of jewellery by innovating with the product and retail environment – both online and offline — and creating a paradigm shift in the jewellery buying experience.

Co-founded by Mithun Sacheti, the scion of Jaipur Gems, and seasoned IT entrepreneur Srinivasa Gopalan in 2008, CaratLane is a unique amalgamation of technology and the traditional jewellery business.

Over the years, CaratLane has launched compelling jewellery collections (Showstoppers, Trellis,
Paisley, Eterna & Fleur,to name a few) based on deep design stories which have received encouraging response from customers. This has been possible due to our understanding of the
preferences of today’s Indian women which has enabled us to design to meet their aesthetic needs for modern and contemporary jewellery.

CaratLane.com was adjudged the best ecommerce site in 2014 by IAMAI.

Magma and PCRA join hands to make our environment and highways a safer haven

~ Target to save close to 40 lac liters of diesel ~

~ Carbon emission to be reduced by over 10,000 tonnes~

~ Improve income and well being of truck drivers~

Workshop conducted by PCRA Trainers at the Magma Fuel Conservation Centre_02

New Delhi, 11th August’2015: Magma Fincorp Ltd., a premier NBFC which tied up with Government of India concern Petroleum Conservation Research Association (PCRA) recently, today announced having imparted training to over 8000 Truckers in 11 transport nagars in the country, plans to train over 1 Lac truckers in the first phase of its “Truckers Wellbeing” campaign. The company which is aiming to achieve three unique feats – of reducing environment pollution, increasing efficiency and profitability of the truckers community and imparting safer driving skills to the drivers is poised to train over 40,000 truckers in the first year of the initiative.

Magma and PCRA, in a joint press meet held today in the national capital, also showcased the E-toilets and Porta Cabins which have been set up at high traffic transport nagars across the country to improve truckers’ hygiene conditions and to train the drivers. PCRA is extending full support with trainers and technical knowhow to the initiative. This nationwide activity is undertaken to conduct regular health checkups and counseling and train truck drivers to become more fuel efficient, increase savings, reduce carbon emission and in the process make Indian highways a safer haven in terms of environment and accidents.

In the first phase, 13 high traffic transport nagars have been identified in the country where permanent Porta cabins and E-toilets are being installed. Since the campaign was launched on 30th March’2015 at Karimnagar Transport Nagar, Magma has already activated 11 locations and two more locations will be activated shortly. These 11 locations are in Sangrur, Hapur, Faridabad, Kanpur, Karnal, Hissar, Bhillai, Patna, Vijaywada, Karimnagar, Yashwantpur.

At these locations, the porta cabins are being used to hold workshops for drivers on improving driving habits for better mileage and fuel conservation. Fuel makes a critical expense for the truck drivers. Efficient driving habits can help truckers save 22 litres of fuel in 1000 kms trip. Hence reduce the truckers operating costs, pollution and increased savings.  Clean sanitation drive through E-toilets will impact and improve hygiene of over 10 lakh people. In the first phase, the facility will provide direct health benefit to over 1 lakh truck drivers and the training workshops have the potential to save about 40,00,000 litres of fuel and reduce carbon emission by about 10,000 tonnes or 100,16,312 kgs approximately.

India has approximately 6 million truck drivers. On an average a trucker drives about 10576 kilometres in a month, becoming vulnerable to eye sight issues, unhealthy eating habits, posture problems, common ailments of cough and cold due to fatigue, and the danger of HIV. Club this with poor highway safety condition and the highways become most vulnerable to accidents. In India, drivers’ fault account for 78.5% (3,81,648 accidents) of total accidents and more than 30% of the total road accident deaths are associated with trucks annually. Magma at these Porta cabins is also organising regular bi-monthly free consultation, diagnosis and basic medication, well being, posture correction and de-stress workshops for the drivers.

Heath check up of truck drivers at the Magma Porta Cabins

Petroleum Conservation Research Association, under Ministry of Petroleum and Natural Gas has been aggressively working on spreading awareness about the urgency of conserving petroleum products since 1978. They have the depth of experienced and trained staff. Magma Fincorp has tied up with Petroleum Conservation Research Association and the training sessions are being conducted by Petroleum Conservation Research Association certified trainers to batches of 15 drivers each. Trucker drivers get a ‘Certification of Excellence’ on behalf of Petroleum Conservation Research Association and Magma.

Appreciating Magma’s initiative and talking about the workshops, Mr. Nilkanth S. Avhad, Executive Director, PCRA said, “Since its inception, PCRA (Petroleum Conservation Research Association under the aegis of Ministry of Petroleum and Natural gas) engaged in promoting fuel conservation and its efficient utilization in major sectors of economy namely Agriculture, Transport, Domestic, Industry and Commercial through its various activities. It helps the government in proposing policies and strategies for petroleum conservation, aimed at reducing excessive dependence of the county on oil requirement. Over the years, PCRA has enlarged its role in improving productivity in use of various sources of energy, for the purpose of achieving environment protection and sustainable development. As far as Transport sector is concerned there is a saving potential of about 20 % in this   sector. ED, PCRA appreciated the joint initiative of M/s. MAGMA & PCRA  for conducting Drivers training  Workshops at various Transport Nagar locations across India, covering about 8000 drivers under the programme till July, 2015.”

Porta Cabin_Magma fuel conservation centre

Mr. Sachin Khandelwal, Chief Sales Officer, Magma Fincorp Ltd. added that “Magma has been regularly conducting free pollution and driver health check camps for truckers over the last few years. However, the partnership with PCRA has enabled us to give structured and qualified driving habits training to close to 1 lac truck drivers in a year. The training will not only help with fuel conservation but also directly impact the savings for truck drivers. Our basic calculations and as per inputs from PCRA’s training programs in the past, show that the saving could be as high as even Rs. 1.5 lac per year. This project is very close to us as we have been continuously working to empower small trucker owner cum drivers with financial aid to help them realize their smallest dreams. And now, a saving of this nature will help them tide over rough economic times”