Art of Time Launches Mid-Income Watch Line Circa, Raises INR 200 Crore
Art of Time, a luxury watch retailer, is expanding its reach with a new concept, Circa, targeting mid-income consumers. The company has raised INR 200 crore and plans to open new stores, launch new products, and grow its team.
Art of Time, founded in 2015 by Bharat Kapoor and Gaurav Bhatia, competes with brands like Just In Time and Kapoor Watch Company. It aims to bridge the gap between affordable and luxury segments with Circa, targeting consumers earning between INR 50,000 and INR 4 lakh per month.
The company has raised a total of INR 200 crore, including a recent INR 175 crore round led by Plutus Wealth Management and industry veterans. This funding round also saw investments from Freshworks founder Girish Mathrubootham, CaratLane founder Mithun Sacheti, and Jaipur Gems CEO Siddhartha Sacheti. Art of Time plans to use these funds to expand its retail presence, launch new product categories, grow its team, and invest in technology and inventory.
Art of Time currently has 14 boutiques across metro cities and plans to open three new stores. These include a multi-brand setup in Noida and a mono-brand setup in Ahmedabad. The company has also signed up 20 global luxury brands since its inception.
Art of Time's expansion plans and new funding will enable it to reach a wider audience with its luxury watch offerings. The company's unique positioning in the market and strong backing from investors set it up for continued growth.
