Ethos Limited is the largest luxury and premium watch retailer in India. The company delivers premium luxury watches through websites, social media platforms and physical stores. Ethos Limited operates on an omnichannel model and allows customers to order products either offline or online and have the flexibility of buying products at one store and returning at another or browsing product catalogues and placing orders online with doorstep delivery.
The company’s watch portfolio has 50 premium brands including Omega, IWC Schaffhausen, Jaeger LeCoultre, Panerai, Bvlgari, H. Moser & Cie, Rado, Longines, Baume & Mercier, Oris SA, Corum, Carl F. Bucherer, Tissot, Raymond Weil, Louis Moinet and Balmain.
The company has 50 physical retail stores in 17 cities in India including New Delhi Mumbai, Bengaluru, Hyderabad, Chennai, Kolkata, Chandigarh, Ahmedabad, Jaipur, Lucknow, Gurgaon, Guwahati, Ludhiana, Nagpur, Noida, Pune and Thane. Ethos Limited has 7,000 different premium watches and 30,000 watches in stock at any given time. As of December 31, 2021, the company’s website had 21,844,216 visitor sessions.
- Access to a large base of luxury Customer.
- Deep understanding of digital and Omnichannel commerce.
- Strategically located and well-invested store network with an attractive in-store experience.
- Strong and long-standing relationships with luxury watch brands and luxury groups.
- Leadership position in an attractive luxury watch market.
- Experienced and committed management team with a proven track record.
Objectives of the Issue:
The company propose to utilise the Net Proceeds towards funding the following objects:
- Repayment or pre-payment, in full or in part, of all or certain borrowings availed by our Company.
- Funding working capital requirements of our Company.
- Financing the capital expenditure for establishing new stores.
- Financing the renovation of certain existing stores and upgradation of enterprise resource planning software.
- General corporate purpose.
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