Homegrown luxury watch brand Argos Watches raises Rs 6.5 crore at Rs 45 crore valuation

Argos Watches, a homegrown luxury watch brand, has raised Rs 6.5 crore in its angel funding round from a clutch of high-net-worth Indian investors. The funds were raised at a valuation of Rs 45 crore.

The investment marks a significant step in the brand's journey as it continues to redefine horology with innovative timepieces designed for Indian watch enthusiasts.

Argos unveils Olympus

Argos Watches has unveiled Olympus, which it claims to be India's first mechanical watch equipped with a power reserve indicator. The watch is priced between Rs 8,000 and Rs 20,000.

"This investment is a strong validation of our vision to bring high-quality, precision-driven mechanical watches to Indian consumers. With the backing of seasoned investors, we are well-positioned to scale our operations, enhance our product offerings, and continue pushing the boundaries of Indian watchmaking," said M Channiwala, Founder of Argos.

"We are proud to introduce India's first mechanical watch with a power reserve indicator. Olympus represents a perfect harmony between timeless aesthetics and advanced mechanics, designed for collectors and watch lovers who appreciate craftsmanship and innovation."

Purpose of fundraising

Argos Watches follows a Direct-to-Consumer (D2C) model, with its current distribution strategy focused exclusively on its owned website. With this fresh infusion of capital, the brand is targeting to double its revenue this financial year.

Argos said it will use the raised capital to accelerate product development, expand brand awareness, and enhance its digital presence to reach a wider audience.

The Indian luxury watch market, which is currently valued at over Rs 10,000 crore, is experiencing strong growth, driven by rising disposable incomes, a growing collector base, and a preference for mechanical timepieces over quartz alternatives.

While Swiss brands continue to dominate the global landscape, India is emerging as a key player, with homegrown brands gaining recognition for their craftsmanship and innovation. The startup believes that the rise of direct-to-consumer (D2C) brands and online retail platforms is further accelerating this trend, making premium watches more accessible to Indian consumers.