Ethos Limited , India's leading luxury watch retailer, has announced the inauguration of a new exclusive TUDOR brand boutique in Gurugram. This strategic move marks a significant expansion of the company's presence in one of India's most prominent luxury retail markets.

Expansion Highlights

Strategic Importance

The opening of this new boutique underscores Ethos Limited's commitment to strengthening its luxury brand portfolio and consolidating its position in the high-end watch retail sector. By bringing coveted international watch brands like TUDOR to discerning Indian customers, Ethos continues to cater to the growing demand for luxury timepieces in the country.

Market Impact

This expansion is likely to enhance Ethos Limited's market presence and potentially contribute to its revenue growth. The company's strategy of opening exclusive brand boutiques in prime locations aligns with the increasing appetite for luxury watches among Indian consumers.

About Ethos Limited

Ethos Limited is a leading player in the Indian luxury watch retail market. The company's extensive network of 87 boutiques across India showcases its strong foothold in the industry. Ethos represents some of the world's most renowned watch brands, offering a curated selection of timepieces to luxury enthusiasts and collectors.

Ethos Limited , a prominent player in the Indian luxury watch retail sector, has reported no deviations in the utilization of its Initial Public Offering (IPO) proceeds for the quarter ended September 30, 2025. The company has successfully allocated and utilized the majority of the Rs. 40,226.00 lakh raised through its IPO, demonstrating efficient capital deployment across various strategic objectives.

IPO Fund Allocation and Utilization

The company's IPO comprised a fresh issuance of Rs. 37,500.00 lakh and an offer for sale of Rs. 2,726.00 lakh. The funds were strategically allocated across five key objectives:

Extended Timeline for Store Establishment

While most fund categories have been fully utilized, Ethos Limited faced challenges in the complete deployment of funds allocated for new store establishment and renovation. The company encountered delays due to:

1. Mall operations not commencing as scheduled
2. Graded Response Action Plan (GRAP) restrictions in Delhi NCR
3. Delays in obtaining design approvals from global brands

In response to these challenges, Ethos Limited has taken proactive steps:

• The Board of Directors, in a meeting held on August 14, 2025, recommended an extension for the utilization of remaining funds under the store establishment category.
• Shareholders approved this extension in the Annual General Meeting.
• The new timeline for utilizing the remaining funds for store establishment has been set to June 30, 2026.

Financial Prudence and Transparency

Ethos Limited's adherence to its stated objectives and prompt disclosure of fund utilization reflects its commitment to financial prudence and transparency. The company's decision to extend the timeline for store establishment demonstrates adaptability in the face of external challenges, ensuring that shareholder funds are utilized effectively and efficiently.

The company's proactive approach in seeking shareholder approval for the extended timeline aligns with good corporate governance practices, maintaining investor confidence in its expansion plans and capital allocation strategies.

As Ethos Limited continues to navigate the luxury retail landscape, investors and market watchers will likely keep a close eye on the company's progress in establishing new stores and its overall performance in the coming quarters.