Ethos penetrates Hyderabad; mulling over to focus more in airports

30th August 2010, Hyderabad

Ethos Swiss Watch Studios, a retail chain of exclusive Swiss watch stores, has inaugurated its first Ethos studio in Hyderabad at Inorbit mall. This new Ethos store stands 24th outlet in the country and it plans to come up with 6 more stores by the end of 2010. The group, which has closed financial turnovers of Rs. 75 crores in the last fiscal year, is on coursto touch Rs 110 crores this financial year. The revenue growth is due to each store registering an increase in volumes and addition of new studios.

The group is presently is in talks with the airports including the one in Hyderabad and plans to add some more studios there. It currently owns 4 studios in airport lounges within India. Ethos studios have some of the biggest global brands displaying their watches. It also has a section for Mont Blanc products range including writing instruments and accessories. The market for luxury watches is growing at over 30 per cent per annum. About a third of total luxury watch sales comes from gifting ? corporate, personal, celebrities et al. Ethos has about 13,000 plus loyalty members who account for about 27 per cent repeat buyers.