Mumbai-based luxury watch retailer Art of Time raises Rs 175 crore in funding

Omnichannel luxury watch retailer Art of Time has raised Rs 175 crore in a funding round led by existing investors, including CaratLane founder Mithun Sacheti, Jaipur Gems CEO Siddhartha Sacheti, Freshworks founder Girish Mathrubootham, and Plutus Wealth Management.

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The round comprised about 70% primary capital and the rest through a secondary share sale, bringing the company’s total capital raised since inception to Rs 200 crore.

The startup plans to use the raised capital to expand retail operations, add new product categories, and invest in technology, inventory, and talent.

Founded in 2015 by Gaurav Bhatia and Bharat Kapoor, the Mumbai-based retailer partners with nearly 20 luxury brands, including Cartier, Montblanc, Piaget, and Jaeger-LeCoultre. It currently operates 14 boutiques across Mumbai, Bengaluru, Chennai, and other metros, offering both multi-brand and mono-brand experiences.

Art of Time plans to add three new stores this fiscal year, its first boutique in Hyderabad, a multi-brand concept called Circa in Noida, and a mono-brand outlet in Ahmedabad.

Circa marks the company’s entry into the bridge-to-luxury segment, targeting consumers in the Rs 50,000 to Rs 4 lakh range, a step below the ultra-premium watches that typically start above Rs 5 lakh. The retailer derives about 85% of its revenue from physical stores, but aims to double online sales from the current 15% to 30% over the next two years.

India’s luxury watch market, valued at about $1.6 billion, is projected to surpass $2.8 billion by 2033, buoyed by rising disposable incomes and expanding appetite for global brands.