Jaipur Watch Company, also seen on Shark Tank India, raises INR 1.6 crores from Klub in Revenue Based Financing
Jaipur Watch Company, India's first Luxury Watch Microbrand, announced today that it has raised INR 1.6 crores from Klub in Revenue Based Financing. These funds would be utilised by the brand for marketing and other inventory-related activities to further elevate the positioning of Jaipur Watch Company in the luxury watches market.
In India, the watches market generates a revenue of INR US$1.98bn in 2024 whereas the Luxury Watches market generates a revenue of US$0.54bn in 2024. The India luxury watch market is projected to exhibit a growth rate (CAGR) of 21.50% during 2023-2028. Jaipur Watch Company, that started in 2013 with a strong belief in the 'Make in India' initiative to offer elegant handcrafted limited edition selection of watches that exude tradition with a subtle hint of contemporary design, clocked an annual revenue of INR 6 crores in FY 2024 and aims to close FY 2025 at INR 12 crores. The company currently sells through its website, online marketplaces such as Tata Cliq Luxury, and its retail stores.
Gaurav Mehta, founder at Jaipur Watch Company, said, “Initially, I was apprehensive about Revenue Based Financing, but upon delving deeper into its workings, I found it to be a far more comfortable and viable option. Looking back, I regret diluting my equity in the early stages of raising funds. If platforms like Klub had been available during Jaipur Watch Company's infancy, I would have undoubtedly chosen this route, preserving my equity while securing the necessary capital. In a niche market like luxury watches in India, sustaining product elevation and managing inventory expenses are paramount. Klub's provision of working capital proves invaluable in this regard.”
Klub, started in 2019, is Asia’s largest Revenue Based Financing platform with offices across India and the UAE. Since its inception, the company has invested in 650+ brands across 1700 investments.
Anurakt Jain, co-founder and CEO at Klub, said, “India’s luxury market is expected to grow 3.5 times the current size to reach $85 bn-$90 bn by 2030, according to a report by global consulting firm Bain & Co. With more and more consumers in India becoming aspirational when purchasing luxury goods, it is exciting to back Jaipur Watch Company and help them grow exponentially.”
Klub offers different capital structures for businesses across all stages (early, growth & late) for recurring marketing, inventory, and capex expenses. The company has invested in businesses such as Chumbak, Bluestone, BluSmart, Third Wave Coffee, Berrylush, among others.
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