Ethos opens 24th store

Ethos Swiss Watch Studios, a retail chain of exclusive Swiss watch stores, has opened its first

Ethos studio in Hyderabad at Inorbit mall. This is its 24th outlet in the country and it plans to add six more during this year. The company, which logged revenues of Rs 75 crores last year, is on course to touch Rs 110 crores this financial year. The revenue growth is due to each store registering an increase in volumes and addition of new studios.

Besides the company is in talks with airports including the one in Hyderabad and plans to add some more studios there. It now has four studios in airport lounges within India. Ethos is part of KDDL, a watch parts supplier. Ethos studios have some of the biggest global brands displaying their watches. It also has a section for Mont Blanc products range including writing instruments and accessories. The market for luxury watches is growing at over 30 per cent per annum. About a third of total luxury watch sales comes from gifting — corporate, personal, celebrities et al. Ethos has about 13,000 plus loyalty members who account for about 27 per cent repeat buyers.