Luxury and premium watch manufacturer, Ethos Limited’s shares rallied 6.19% to reach an intraday high of ₹ 973.80 apiece on the National Stock Exchange (NSE). Its shares were trading at ₹ 962.550 apiece at 11:59 AM on Monday.
Exclusive partnership with Speake-Marin
The company on Friday informed the bourses that it has signed an exclusive partnership with Swiss watch brand Speake-Marin for the Indian market. It said that Speake-Marin’s timepieces will be exclusively available at Ethos watch boutiques. It will include timepieces such as One & Two Dual Time and City Ripples.
“We are bringing Speake-Marin to India in order to cater to that interest, as well as open up the brand to a whole new audience. With their vast appeal, Speake-Marin’s collections, include several timeless creations, in in-line with the interests of the Indian market,” said Yashovardhan Saboo, Managing Director of Ethos Limited.
Retail partnership with Trilobe
In another development, the company signed an exclusive retail partnership with Trilobe to launch the Fine Watchmaking Brand in India. Ethos’ watch boutiques will exclusively retail Trilobe across India. The selection will be available from early 2023 and the core range will include models from all Trilobe watch collections —Les Matinaux, Nuit Fantastique, Secret, and Une Folle Journée.
Trilobe has been nominated for the esteemed Grand Prix d’Horlogerie de Genève (GPHG) — often touted as the ‘Oscars’ of the watch industry — every year since its launch. Saboo said that Trilobe has made a mark in the watch industry, in just a few years, with timepieces that are inventive and innovative, and that’s no mean feat.
About the company
Ethos Limited is one of India’s largest luxury and premium watch retailers, founded in 2003. Its shares got listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on May 30, 2022. They made a muted debut on the bourses at ₹ 825 per share levels as compared to their upper price band level of ₹ 878 per share. However, they gained 20.12% since their listing.
Ethos is a small-cap company with a market capitalization of ₹ 2141 Crores. It has a return on equity of 12.08% and an ideal debt-to-equity ratio of 0.17. Its shares are trading at a price-to-equity ratio of 24.48, which is slightly higher than the industry P/E, indicating that the stock might be overvalued or that its investors expect that its share price will increase in the future.
Written by Simran Bafna
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