Art of Time Secures Rs 175 Crore for Luxury Watch Expansion, Including New CIRCA Concept
Art of Time, a luxury watch retailer, has secured Rs 175 crore ($19.5 million) in a Series B funding round. The company, founded in 2015 by Gaurav Bhatia and Bharat Kapoor, plans to use the funds to expand its store network and launch a new bridge-to-luxury concept called CIRCA.
Art of Time currently operates 14 boutiques across five Indian cities, serving as a retailer for high-end watch brands like Cartier, Omega, Montblanc, and Bvlgari. The company aims to reach a wider audience with its new CIRCA stores, starting with a launch in Delhi this year. This expansion will include tier II and III markets, indicating a strategic push towards India's aspirational watch buyers.
The funding round was led by Mithun Sacheti and Siddhartha Sacheti, founders of Caratlane, with additional support from Plutus Wealth Management and Freshworks founder Girish Mathrubootham. Art of Time will also invest in leadership hires, technology, and inventory to support its growth. The company has appointed Prashant Chaudhary, a former Caratlane executive, to lead the CIRCA initiative, an omni-retail concept designed to attract the next generation of luxury watch buyers.
With the successful funding round, Art of Time is poised for significant growth. The company's expansion plans, including the launch of CIRCA stores in tier II and III markets, signal a commitment to capturing a larger share of India's luxury watch market. The investment in leadership, technology, and inventory further strengthens Art of Time's position as a leading player in the sector.
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