New Delhi: Sixth Sense Ventures, consumer centric domestic venture fund, has invested an undisclosed sum in Ethos - a retail chain for luxury watches, it said in a press note.
This is the first transaction completed by Sixth Sense Ventures and subsequently it becomes the first institutional firm to invest in Ethos. However, financial terms of this deal has not been disclosed.
Ethos has considerably quite dominant position in the luxury watch segment. It currently has 44 premium stores across the country. It is also an authorised retailer for around 50 global luxury watch brands.
"We see in ETHOS, a fascinating opportunity to partner and participate in a scale business, which is likely to be extremely profitable and rides on the back of the strongest global brands," says Nikhil Vora, Founder & CEO of Sixth Sense Ventures.
"Happy to partner someone like Nikhil Vora and Sixth Sense Ventures who understand the future of consumer behaviour, says Yasho Saboo, CEO of KDDL/Ethos.
Sixth Sense Ventures has been looking to raise Rs 250 crore ($40 million) from a mix of high-net worth investors (HNIs), family offices, corporate houses and domestic institutions, according to media reports.