Team Startupcity

• Luxury watch retailer Art of Time has raised Rs 175 crore from investors including CaratLane’s Mithun Sacheti and Freshworks’ Girish Mathrubootham, bringing total funding to Rs 200 crore.
• The funds will help expand retail footprint, launch new concepts like ‘Circa’ targeting mid-income buyers, and boost online sales from 15% to 30% over two years.
• With 14 boutiques and three more launching soon, Art of Time aims to tap into India’s growing luxury market by blending high-end offline experiences with digital retail.​

Art of Time, India's largest omnichannel luxury watch retailer, has raised Rs 175 crore in a new round of funding from a cluster of marquee investors such as Mithun Sacheti (CaratLane founder), Siddhartha Sacheti (CEO, Jaipur Gems), Girish Mathrubootham (Freshworks founder), and Plutus Wealth Management.

The round was made up of 70% primary infusion and 30% secondary sale, aggregating to the company's total funding of Rs 200 crore since inception. Started in 2015 by Gaurav Bhatia and Bharat Kapoor, Art of Time is the exclusive representative of more than 20 international luxury watch and accessory brands like Cartier, Montblanc, Piaget, and Jaeger-LeCoultre.

The company has a network of 14 boutiques spread across key metros like Mumbai, Bengaluru, and Chennai and is all set to open three outlets this year a flagship boutique in Hyderabad, a new multi-brand retailing concept 'Circa' in Noida, and a mono-brand boutique in Ahmedabad.

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The new capital will be used to increase retail presence, introduce new categories of products, invest in technology and inventory, and build the team. Though 85% of sales are now from physical stores, the company is looking to double online contribution from 15% to 30% in the next two years.

Besides fortifying its luxury watch position, Art of Time is also entering the 'bridge-to-luxury' segment with its Circa concept. This new format appeals to customers who have monthly incomes between Rs 50,000 and Rs 4 lakh, allowing the brand to access a wider audience in addition to its high-income customer base.

By this round, Art of Time is set to further strengthen its presence in India's rapidly expanding luxury retail market, marrying unique in-store experiences with digital platforms to address changing shopper demands.