Mumbai-based omnichannel luxury watch retailer Art of Time has secured Rs 175 crore in its latest funding round, with participation from a group of marquee investors. The round was led by existing backers including CaratLane founder Mithun Sacheti, Jaipur Gems chief executive Siddhartha Sacheti, Freshworks founder Girish Mathrubootham, and Plutus Wealth Management.
Roughly 70 percent of the capital was raised as primary infusion, while the remainder came through secondary share sales. With this round, Art of Time has raised close to Rs 200 crore since its inception a decade ago.
Founded in 2015 by Gaurav Bhatia and Bharat Kapoor, the retailer has built a portfolio of nearly 20 global luxury brands such as Cartier, Piaget, Montblanc and Jaeger-LeCoultre. It currently operates 14 boutiques across Mumbai, Bengaluru, Chennai and other major metros. The company derives about 85 percent of its revenue from brick-and-mortar outlets, though management has indicated that e-commerce will play a bigger role, with online sales targeted to rise from 15 percent to 30 percent in the next two years.
The fresh funding will be deployed towards retail expansion, technology upgrades, talent acquisition and strengthening inventory. Among upcoming launches are three new stores this fiscal year, including the company’s first boutique in Hyderabad, a new multi-brand format called Circa in Noida, and a mono-brand outlet in Ahmedabad. Circa is positioned for the bridge-to-luxury category, catering to buyers in the Rs 50,000 to Rs 4 lakh price band, below the traditional luxury threshold where watches typically start above Rs 5 lakh.
India’s luxury watch market is estimated at $1.6 billion and is forecast to exceed $2.8 billion by 2033, driven by growing disposable incomes and an appetite for international labels. Art of Time is betting that its blend of curated retail formats and digital push will capture this momentum.
