ETHOS Watches is India\'s largest chain of luxury watch boutiques with 44 premium stores across the country.
Sixth Sense Ventures, India's first consumer centric domestic venture fund has announced the closure of its first investment in ETHOS - India's largest retail chain for luxury watches. The transaction marks the first entry of an institutional player in ETHOS (subsidiary of KDDL) in a Series A financing round, in order to continue the meteoric growth and dominance in the luxury watch space.
ETHOS Watches is India's largest chain of luxury watch boutiques with 44 premium stores across the country and an authorised retailer for around 50 global luxury watch brands.
ETHOS has grown at a scorching 37 per cent CAGR over the past 5 years and is a market leader by far in its space. Ethos has also over the past couple of years, build a formidable Ecom Asset light platform, which is already generating over 20% of leads converting into sales.
"ETHOS sits in well with our philosophy of Investing in the 'Consumer of Tomorrow', says Nikhil Vora, Founder & CEO of Sixth Sense Ventures. "We see in ETHOS, a fascinating opportunity to partner and participate in a scale business, which is likely to be extremely profitable and rides on the back of the strongest global brands. The consumer of tomorrow is a lot more aspirational, which will make it move up from traditional Indian brands towards global Masterbrand's. By every metric, ETHOS's online and offline platform is powering this changeover and we are thrilled to now be their partner as they continue to scale."
"Happy to partner someone like Nikhil Vora and Sixth Sense Ventures who understand the future of consumer behaviour, says Yasho Saboo, CEO of KDDL/ETHOS. At ETHOS, we believe we are at the cusp of a sustained growth, with global brands vying for a slice of the Indian Emerging HNI segment. Global brands are also looking at partnering with very credible players like ETHOS to further strengthen their brands and enrich customer experience. One aspect which we will ensure doesn't change will be to remain true to our ETHOS - morals, values and belief - towards our customers and stakeholders."
Further, financial terms of this deal has not been disclosed.