Luxury & High-Luxury Watch Share: Increased from 68% to 71% (YoY)
Business Expansion & Operational Highlights
Store Expansion:
5 new stores opened in Q3 FY25 (total 13 new stores in 9M FY25).
Total store count: 73 across 26 cities.
Entered three new cities: Dehradun, Kochi, and Mangaluru.
Opened a second duty-free store at Bengaluru Airport.
Digitally Assisted Sales: Grew by 53.9% in Q3 FY25 and 32.9% in 9M FY25.
New Brand Partnerships:
Added 3 exclusive brands in Q3 FY25 (Christian van der Klaauw, Carl Suchy & Sƶhne, Zero Halliburton).
Signed 6 exclusive partnerships since April 2024.
Exclusive brand sales contributed 29.7% of revenue in Q3 FY25.
Challenges & Strategy
Operational Challenges:
Increased costs due to new store manpower and rent.
Construction delays due to pollution-related restrictions in Delhi/NCR (52 days of restrictions affecting 75 days of operations).
Future Strategy:
Plan to open 6 more boutiques by FY25.
Focus on talent acquisition and development.
Targeting 10x revenue growth over the next decade.
Conclusion
Ethos Limited demonstrated strong revenue growth and continued expansion in Q3 & 9M FY25, with a focus on luxury brand partnerships, digital sales, and store openings. Despite some margin pressure from expansion costs, the company remains committed to its long-term growth strategy.