Art of Time Raises Rs 175 Crore, Plans Retail Expansion and New Product Categories
Art of Time, a luxury watch omnichannel retailer, has raised Rs 175 crore in its latest funding round, led by existing investors. This brings the company's total capital raised since inception to Rs 200 crore. The funding round comprised about 70% primary capital and the rest through a secondary share sale.
Founded in 2015 by Gaurav Bhatia and Bharat Kapoor, Art of Time currently operates 14 boutiques across multiple metros in India. The startup plans to use the raised capital to expand its retail operations, add new product categories, and invest in technology, inventory, and talent. This fiscal year, Art of Time aims to add three new stores, including its first in Hyderabad and a multi-brand concept called Circa in Noida.
Circa targets the bridge-to-luxury segment, focusing on consumers in the Rs 50,000 to Rs 4 lakh range. The retailer partners with nearly 20 luxury brands, including Cartier, Montblanc, Piaget, and Jaeger-LeCoultre. Art of Time aims to double its online sales from the current 15% to 30% over the next two years.
With the recent funding, Art of Time is well-positioned to expand its retail presence, diversify its product offerings, and enhance its online sales. The company's strategic plans, including the launch of Circa and expansion into new markets, are expected to strengthen its position in the luxury watch retail sector.
