Argos Watches, the homegrown luxury watch brand, has raised INR 6.5cr in its angel funding round at a valuation of INR 45cr from a clutch of high-net-worth Indian investors. This milestone marks a significant step in the company’s journey as it continues to redefine horology with innovative timepieces designed for Indian watch enthusiasts.
To celebrate this investment, Argos Watches has unveiled its latest creation Olympus, India’s first mechanical watch equipped with a power reserve indicator. Olympus is a testament to the brand’s commitment to precision engineering, blending classic craftsmanship with modern innovation. Priced between INR 8,000 and INR 20,000, Argos Watches offers premium timepieces that make luxury more accessible to Indian consumers.
Commenting on the funding, M Channiwala, Founder, Argos, said: “This investment is a strong validation of our vision to bring high-quality, precision-driven mechanical watches to Indian consumers. With the backing of seasoned investors, we are well-positioned to scale our operations, enhance our product offerings, and continue pushing the boundaries of Indian watchmaking. We are proud to introduce India’s first mechanical watch with a power reserve indicator. Olympus represents a perfect harmony between timeless aesthetics and advanced mechanics, designed for collectors and watch lovers who appreciate craftsmanship and innovation.”
Argos Watches follows a pure Direct-to-Consumer (D2C) model, with its current distribution strategy focused exclusively on its owned website. By maintaining a direct relationship with its customers, the brand ensures a seamless shopping experience and upholds its commitment to quality, exclusivity, and craftsmanship.
With this fresh infusion of capital, Argos Watches is targeting to double its revenue this financial year, backed by strong demand for high-quality mechanical timepieces and a growing community of Indian watch enthusiasts. The newly secured funds will be utilized to accelerate product development, expand brand awareness, and enhance its digital presence to reach a wider audience.
The Indian luxury watch market, currently valued at over INR 10,000 crore, is experiencing strong growth, driven by rising disposable incomes, a growing collector base, and a preference for mechanical timepieces over quartz alternatives. While Swiss brands continue to dominate the global landscape, India is emerging as a key player, with homegrown brands gaining recognition for their craftsmanship and innovation. The rise of direct-to-consumer (D2C) brands and online retail platforms is further accelerating this trend, making premium watches more accessible to Indian consumers.
Source : Press Release
