# Ethos

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ethos-2

- Industry: Retail
- Headquarters: Chandigarh, India
- Website: www.ethoswatches.com
- Total disclosed funding: $1.2M
- Latest round: Series A (Oct 31, 2014)
- Investors on record: 1

## About

Based in India, Ethos Limited specializes in luxury watch retail, operating the largest chain of watch boutiques in the country, and offering an extensive collection of renowned Swiss-made timepieces.Ethos Limited, founded in 2007, is a luxury watch retailer headquartered in Chandigarh, India. The company operates with a focus on providing genuine luxury watches from over 70 prestigious brands. Its most recent funding round occurred in May 2022, during which the company raised INR 4720 million in an IPO. The founders, Richard Wild and Yasho Saboo, have a background that underpins their commitment to the luxury watch market. Ethos has completed a total of 8 deals, with a latest round investment raised amounting to INR 250.000 mn, bringing the total amount raised by the company to INR 250.000 mn and a current valuation of INR 18539.486 mn.Ethos Watches is India’s largest chain of luxury watch boutiques, offering a wide range of Swiss-made luxury watches. The product lineup includes timepieces from over 70 prestigious brands such as Rolex, Omega, and Hublot. Ethos caters to affluent consumers by ensuring the authenticity of every product, addressing concerns about counterfeiting. The company also provides services such as watch care, repair, and concierge assistance, enhancing the overall customer experience. Ethos strategically operates in major metropolitan areas and expanding cities in India, focusing on meeting the growing demand for luxury goods.Ethos Watches reported a revenue of INR 120678737 for the most recent fiscal year in 2024, with an EBITDA of INR 19052375.7. The company generates revenue through direct sales in boutiques and an online shopping platform, operating under a direct-to-consumer model. This structure allows customers to purchase high-end timepieces either in-store or online, potentially forming exclusive retail partnerships with luxury watch brands to enhance product offerings.Ethos Limited plans to leverage its recent funding of INR 250.000 mn from May 2022 to enhance its product line and expand its geographical presence. The company is focused on designing new luxury watch collections aimed at affluent consumers, with details on upcoming releases yet to be disclosed. Ethos is also targeting expansion into emerging markets within India, particularly in cities experiencing a rise in demand for luxury goods, aiming for implementation by 2024. This growth strategy is aimed at reinforcing its position within the luxury watch sector.

## Funding rounds

- Series A, Oct 31, 2014, $1.2M — Sixth Sense Ventures

## Investors

- Sixth Sense Ventures (https://capitalatlas.ai/funds/sixth-sense-ventures) — Series A