Sixth Sense Ventures invests in luxury watch brand Ethos

Sixth Sense Ventures, a venture fund formed by Nikhil Vora, former MD of IDFC Securities, has announced his first investment in Ethos – India’s leading retail chain for luxury watches. This is the first time that the consumer-centric domestic venture fund has invested in Ethos, in a Series A funding round.

Ethos Watches, a retail subsidiary of Kamla Dials and Devices (KDDL), operates 44 premium stores across the country retailing premium watch collections of around 50 global luxury watch brands. The chain has witnessed a growth of 37 percent CAGR over the past 5 years, according to a media release. Ethos also operates an e-commerce platform, which is already seeing over 20 percent of leads converting into sales.

Sixth Sense Ventures has been looking to raise Rs 250 crores from a mix of high-net worth investors (HNIs), family offices, corporate houses and domestic institutions. The fund, which will target the broader consumption theme, will look at investing 1-5 million dollars (around Rs 6 to Rs 31 crores) in each portfolio.