History of Ethos Limited

_x000D_ Incorporated on November 5, 2007, Ethos Limited is engaged in the retail trading of watches and watch accessories. The company is the authorised retailer of about 50 luxury watch brands._x000D_ _x000D_ The company was incorporated as Kamla Retail Limited and opened its first store in 2003 in Chandigarh under the umbrella of KDDL Limited. In 2007, the company was incorporated as a public limited company._x000D_ _x000D_ In 2008, KDDL Limited’s retail business was transferred to Kamla Retail Limited. In 2012, the company was renamed as Ethos Limited. Meanwhile, the company opened several stores nationwide and started offering online services as well. In 2022, the company was listed on the BSE and NSE._x000D_ _x000D_ As of March 2023, the company has over 50 stores present in 20 cities and offers more than 60 luxury and premium watch brands._x000D_

Business Segments of Ethos Limited 

_x000D_ There are 2 business segments of the company, as follows:_x000D_

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1. Products: The company provides various luxury and premium branded watches in this segment. There are 4 segments under this: premium, bridge to luxury, luxury, and high luxury. Depending on the brand, the product range can go beyond ₹10 lakh. The company also offers pre-owned watches, watch accessories and jewellery._x000D_ The watch accessories provided by the company includes watch winders, watch straps, collector box, clocks, etc._x000D_ The company offers jewellery from luxury brands like Bvlgari and Messika Paris, where they offer rings, necklaces, bracelets, earrings, etc. The company provides pre-owned jewellery on a different website called Second Movement. Their partnered brands include Rolex, Balmain, Omega, Rado, etc. The company is also an exclusive collaborator for brands like Bovet and Jacob and has boutiques in India.
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2. Services: Ethos Limited also provides repair and maintenance services. They offer services like strap replacement, replacement of watch parts, battery replacement, ultrasonic cleaning, polishing, and much more.
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_x000D_ As of March 31, 2023, the subsidiary companies under Ethos Limited are,_x000D_

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1. Cognition Digital LLP: This is a wholly-owned subsidiary of the company that offers IT and IT-based business for retail and distribution.
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2. Silvercity Brands AG: This wholly-owned subsidiary of the company is involved in acquiring, selling, and managing intellectual property rights and licence rights, particularly in the watch industry and related spaces.
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Key Personalities of Ethos Limited

_x000D_ Yashovardhan Saboo, Managing Director and Chairman_x000D_ _x000D_ Yashovardhan Saboo is the Managing Director and Chairman of Ethos Limited. He has over 4 decades of experience. In 1980, he started as the Director of Groz-Beckert Saboo Limited in Chandigarh. From 1991 to 1993, he was the Managing Director of the company. He also established Kamla Dials and Devices Limited (now KDDL Limited) in 1983. In 2003, he established Ethos Limited. In 2005, he was awarded the Udyog Ratna Award by the Chamber of Commerce and Industry (PHDCCI) for his valuable contribution to the economic development of Himachal Pradesh._x000D_

Management Outlook of Ethos Limited

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• The company plans to expand into new cities in the country with a target of 40 retail stores by FY 2025.
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• In 2021, the sales of pre-owned watches touched USD 22 billion, and the demand for these watches is high. The company would like to tap into this opportunity by educating consumers, connecting buyers and sellers through online and offline channels and promoting price transparency.
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