Art of Time, a leading omnichannel luxury watch retailer in India, has successfully raised ₹175 crore in a fresh round of funding. The company has confirmed that the new investment will be directed towards broadening its retail presence, expanding product offerings, and strengthening both its technology and inventory base. It also intends to use part of the funding to build its team and to introduce new retail concepts designed to attract a wider base of aspirational buyers.
Founders and Early Journey
Art of Time was established in 2015 by ownership partners Gaurav Bhatia and Bharat Kapoor, who had a passion for horology and luxury craftsmanship. Under their leadership, the company has evolved from a niche idea to one of the leading channels in India for the distribution of luxury watches. Their ongoing commitment to trust, with the global watchmaking community and collectors in India, has created exclusive authorized partnerships and enabled the development of a reputation for micro-authenticity in a brand-driven marketplace. Their vision has helped to develop a two-pronged retail approach by selling products directly in curated ultra-luxury boutique while conceptualizing new channels for brand growth such as Circa. This segment of the brand extends the retail experience to aspirational buyers.
Backing from well-known investors
The round attracted backing from well-known investment groups and individuals from the industry such as Mithun Sacheti, the founder of CaratLane; Siddhartha Sacheti, the chief executive of Jaipur Gems; Girish Mathrubootham, the founder of Freshworks; and the financial services group, Plutus Wealth Management all played a role in creating investor confidence in Art of Time’s emergence as a serious competitor in the growing luxury retail market in India.
Deal structure and cumulative capital raised
The funding arrangement consists of both a primary capital infusion and a secondary share sale. Public filings indicate that approximately 70 percent of the funds are in the form of fresh equity, while the balance of about 30 percent involves existing shareholders partially offloading their stakes. With this round, the company’s total capital raised since its inception is reported to be in the region of ₹200 crore. This continued access to capital signals the trust investors place in the company’s growth trajectory and business model.
Expanding retail presence across India
Since its founding in 2015, Art of Time has built a growing network of luxury watch boutiques in major Indian metropolitan cities. The brand is known for operating multi-brand outlets as well as exclusive mono-brand stores, giving customers both variety and specialization. At present, the company operates 14 boutiques across cities such as Mumbai, Bengaluru and Chennai.
With the fresh capital, Art of Time plans to further its growth of this network. The company just announced three new stores for this current financial year, which are the first store launch in Hyderabad, a brand new multi-brand store named “Circa” in Noida, and a mono-brand boutique in Ahmedabad. Each of these reasons are clearly targeted at enhancing its region footprint and hitting the emerging luxury consumption outside of the established metros.
Circa: introducing a bridge-to-luxury model
One of the most notable developments tied to this funding is the upcoming launch of Circa, a fresh retail concept that Art of Time describes as a “bridge-to-luxury” offering. While the company is best known for its curation of ultra-premium watches, Circa is aimed at a segment of customers who fall between the mainstream fashion watch buyer and the ultra-luxury connoisseur.
The segment targeted by Circa is broad, comprising aspirational professionals and first-time collectors with growing disposable incomes. With its curatorial offering of accessible luxury watches, Circa will enhance the accessibility of global brands while retaining the emphasis on authenticity and service that is core to Art of Time. This strategy will help increase the brand’s relevance to a younger and more diverse audience.
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Offline strength with digital ambitions
Art of Time continues to draw most of its revenue from physical retail. Current estimates indicate that about 85 percent of its sales come from its boutiques, while the remainder comes from online channels. The company has publicly set its sights on doubling the share of online sales in the coming two years, aiming for close to 30 percent contribution from digital platforms.
To this end, Art of Time plans to implement technology upgrades, an omnichannel experience, and digital marketing initiatives that reflect the changing behaviour of consumers. More luxury consumers in India are demanding a seamless shift from online exploration to offline purchasing, and Art of Time intends to live up to that expectation.
Partnerships with global watchmakers
Art of Time has built its reputation by curating some of the most prestigious names in global horology. Its partnerships extend to over 20 international watch and accessory brands, including Cartier, Montblanc, Piaget, Jaeger-LeCoultre, Omega and Bvlgari. Through these collaborations, the company has become a trusted destination for collectors, enthusiasts and newcomers to the luxury watch space.
Art of Time, by combining unique partnerships together with an unusual retail setting, challenges the idea of a store to become a cultural destination for watch appreciation, and a way for Indian buyers to access global craftsmanship.
Strategic use of funds
The newly raised capital will support several strategic priorities. In addition to the planned store launches and Circa rollout, funds will be used to bolster inventory, providing steady availability of flagship models and limited editions to Indian consumers. Technology will be yet another key priority, especially with a focus on creating seamless omnichannel experiences, and strengthening backend systems to support increased operations. In addition, the company plans to enhance its workforce, both in terms of retail staff and leadership talent, to support its ambitious scale-up.
This multi-pronged approach reflects the company’s recognition that competing in luxury retail requires both an elevated physical presence and a sophisticated digital backbone.
India’s growing luxury watch market
The timing of this raise comes at a time when India’s luxury watch sector is surging. An increase in throwaway incomes, changing consumer aspirations, and increased respect for craftsmanship have created a good environment for brands like Art of Time. Market research has suggested that India’s luxury watch segment is now worth well above $1 billion, and will continue to grow robustly in the next decade. Considering this environment, Ignition’s expansion strategy to new geographies, new customer segments and to new concepts like Circa seems well timed.
Crafting the Next Chapter in Luxury Retail
With robust financial support, a well-defined flow of additional locations, and increasing focus on technology, Art of Time is ready to advance to its next stage of growth. Finding and maintaining a mix of established luxury customers along with newer aspirational customers will be a significant factor for the company’s sustainable success. As India’s luxury retail market matures, Art of Time’s approach to merge exclusivity with accessibility might serve as a blueprint for the industry.
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