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Avoid to Ethos: ICICI Direct

ICICI Direct has come out with its report on Ethos. The research firm has recommended to ''Avoid'' the ipo in its research report as on May 17, 2022.

May 17, 2022 / 12:49 PM IST


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ICICI Direct IPO report on Ethos

Ethos is one of the largest luxury and premium watch retail players in India having 13% share of total retail sales in the premium and luxury segment and a share of 20% in the luxury segment. The company has a chain of 50 physical retail stores in 17 cities in India in a multi store format and offers an Omni channel experience to its customers through its website and social media platforms • Ethos has a sizeable portfolio of premium and luxury watches in India enabling it to retail 50 international premium and luxury watch brands.

Valuation and Outlook

We assign AVOID rating and await consistency in improvement in profit metrics that the company has exhibited in recent quarters.

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