Ethos Limited operates a chain of luxury watch boutiques across India, focusing on premium and luxury brands like Omega, Jaeger LeCoultre, and Tissot. Their business includes selling new and pre-owned watches, along with offering after-sale services.

Ethos has seen a strong performance in H1 FY26, with a significant revenue growth of 27.9% compared to H1 FY25, amounting to ₹729.7 Cr. This growth highlights a robust brand portfolio and a rising demand for luxury timepieces in India.

The company expanded its retail footprint significantly, adding new boutiques and enhancing its presence in high-potential, premium locations, which resulted in increased store productivity and stronger brand presence.

Forex fluctuations have impacted the company's margins due to INR depreciation, leading to increased costs, which were not fully passed on to the customers, affecting the profit margins adversely.

Ethos Limited continues to strengthen its lifestyle vertical by opening new boutiques for brands like Messika and Rimowa, enhancing its position as a premier destination for global luxury products.