May 18, 2022 to May 20, 2022
₹836 to ₹878 per share
Ethos Limited is India's leading luxury and premium watch retailer. The company sells premium luxury watches online, via social media, and from physical stores. Ethos Limited relies on an omnichannel approach, allowing customers to order things either offline or online, with the option of purchasing products in one store and returning to another or browsing product catalogs and placing orders online with doorstep delivery.
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 are among the 50 top brands in the company's watch portfolio.
In India, the company operates 50 physical retail outlets in 17 cities, including New Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, Kolkata, Chandigarh, Ahmedabad, Jaipur, Lucknow, Gurgaon, Guwahati, Ludhiana, Nagpur, Noida, Pune, and Thane. Ethos Limited always has 7,000 different premium watches and 30,000 watches in stock at any given time.
There are 14 Ethos Summit Stores and one Airport store, 15 multi-brand outlets and 10 Ethos Boutiques, 9 luxury segment mono-brand boutiques providing a single luxury watch brand, and one CPO luxury watch lounge for pre-owned watches among the 50 stores.
The proceeds from the offering will be utilised as follows:
Rs 29.89 crore will be utilised against repayment/ prepayment of debt.
Rs 236.75 crore to meet working capital requirements
Rs 33.27 crore for opening new stores and renovating existing stores.
Rs 1.98 crore is utilised for upgrading enterprise resource planning (ERP) software.
General corporate purpose
For the year/period ended (Rs in Lakhs)
Access to a large number of luxury customers.
In-depth knowledge of digital and omnichannel commerce.
A well-located and well-invested store network with an appealing in-store experience.
Long-standing and strong partnerships with luxury watch companies and premium groups.
Holds a leading position in a lucrative luxury watch market
Because the company does not have definite agreements for product supply or established terms of trade with the bulk of its suppliers, disruptions in product supply can harm the business's profitability.
The business is partly dependent on the global success and reputation of third-party brands, and any negative impact on these brands or failure by Ethos or the owners of these brands to protect them, as well as other intellectual property rights and proprietary information, may have a negative impact on the business.
Inability to effectively identify client demand and maintain an adequate level of inventory in stores
Because it relies on watch brands to manufacture all of the products it sells, any disruptions in the manufacturing end can have an impact on the firm.
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