Ethos Limited has officially inaugurated its new watch boutique at Z Square Mall in Kanpur, Uttar Pradesh, marking a significant expansion milestone for the luxury watch retailer. The company announced this development through an official communication to stock exchanges, highlighting its continued growth in India's luxury retail segment.

Boutique Location and Details

The new Ethos Watch Boutique is strategically located at G-12&13, Z Square, Mall Road, Downtown, Kanpur, Uttar Pradesh 208001. This location represents the company's commitment to making luxury watch brands more accessible to customers in tier-2 cities across India.

Strategic Expansion Initiative

According to the company's official announcement, this boutique launch marks a significant milestone in strengthening Ethos's luxury brand portfolio and consolidates its presence in India's prominent luxury retail markets. The expansion aligns with the company's strategic vision of delivering unparalleled luxury experiences to discerning customers across the country.

Network Growth Achievement

With the opening of the Kanpur boutique, Ethos Limited now operates 91 boutiques across India, reinforcing its position as a leading player in the organized luxury watch retail sector. The company continues to focus on expanding its geographical reach while maintaining its commitment to offering exclusive international watch brands to Indian consumers.

Market Positioning

The launch underscores Ethos's dedication to making the world's most exclusive watch brands more accessible to customers in emerging markets. This expansion strategy demonstrates the company's confidence in the growing demand for premium lifestyle products in tier-2 cities, where luxury consumption patterns continue to evolve.

Source: None/Company/INE04TZ01018/807c1f35-b7ca-4f0b-8bca-d326fa4f77e5.pdf

Ethos Limited has issued a postal ballot notice seeking shareholder approval for the re-appointment of its Chairman and Whole-Time Director. The luxury watch retailer is conducting the voting process entirely through electronic mode in accordance with regulatory requirements.

Re-appointment Details

The company seeks approval for the re-appointment of Mr. Yashovardhan Saboo (DIN – 00012158) as Chairman and Whole-Time Director for a three-year term commencing April 1, 2026 to March 31, 2029. The resolution requires special resolution approval due to specific regulatory requirements.

E-voting Schedule

The electronic voting facility will be available to shareholders during a specified period, with KFin Technologies Limited serving as the Registrar and Transfer Agent providing the e-voting platform.

Proposed Remuneration Structure

The Board of Directors, based on recommendations from the Nomination and Remuneration Committee and Audit Committee, has approved the remuneration structure for Mr. Saboo's re-appointment at Ethos Limited.

The variable pay component will not exceed 20% of the fixed salary and will be determined annually based on key responsibility areas and financial and non-financial performance parameters.

Regulatory Requirements

The re-appointment requires special resolution approval for two primary reasons. First, Mr. Yashovardhan Saboo will attain the age of 70 years during the proposed tenure, necessitating approval under Section 196(3) of the Companies Act, 2013. Second, he draws remuneration from both Ethos Limited and its holding company KDDL Limited, requiring compliance with Schedule V provisions.

Company Performance Context

The explanatory statement provides the company's financial performance as context for the remuneration proposal:

Leadership Background

Mr. Yashovardhan Saboo holds an MBA from the Indian Institute of Management, Ahmedabad, and has over 38 years of experience in manufacturing and retail industries. He founded KDDL Limited in 1983 and established Ethos Limited in 2003. His current term as Chairman and Managing Director at Ethos Limited concludes on March 31, 2026.

The Board has evaluated the combined role of Chairman and Whole-Time Director and believes it enables effective strategic oversight and execution, considering the company's organizational structure, long-term brand partnerships, and global luxury relationships. CS Jaspreet Singh Dhawan has been appointed as the Scrutinizer for conducting the postal ballot process.