Ethos, a chain of luxury watch boutiques’s gross revenue increased by 30.8 per cent year-on-year (YoY) at Rs 242 crore in quarter four of 2023 (Q4FY23), compared to the last year at Rs. 185 crore in the same quarter, as per the company’s regulatory filing on Monday.
The brand recorded a total gross revenue of Rs. 918 crores in the financial year 2023 with 36.6% YoY growth.
The company continues to show highest ever growth in FY23 on the back of robust demand and focused marketing initiatives, it said.
Ethos, ventured into 2 new cities, Bhopal and Siliguri and now with this the number of cities has increased to 20.
Furthermore, the company has opened 4 stores during the quarter and the total number of stores is now 54.
“FY23 has reinforced our belief in the strong growth against the last year and we witnessed the continuous growth trends over the last few quarters. It shows a consistent trend that reflects the transformation of the Indian market for luxury watches, with Ethos as the reference,” the official document stated.
“Our portfolio of brands and assortment of products, best-in-class customer services, globally competitive prices,” it added.
