Mumbai-based watch retailer Just in Time has hit the 100-store mark and is preparing for a potential stock market listing. The company, which recently raised funding from investors like Ashish Kacholia, is targeting ₹1,000 crore in revenue by FY27. It plans to expand its physical footprint using a company-owned model to capture growing demand in the mid-market segment.
Just in Time, a Mumbai-based watch retail chain, has crossed the 100-store milestone, marking a significant step in its growth as the company prepares for a potential initial public offering. While the firm has not set a final date for the IPO, management is working to institutionalize its business operations and enhance its profile for public investors. This shift follows a period of rapid expansion and private funding, including an ₹80 crore round in 2025 led by investors such as Ashish Kacholia and Lashit Sanghvi.
The retailer operates primarily in the mid-market segment, focusing on watches priced between ₹10,000 and ₹3 lakh. This strategy aims to capture consumers looking for quality timepieces that fall between entry-level fashion watches and ultra-luxury goods. The company has set an ambitious goal to achieve ₹1,000 crore in revenue by the end of the 2027 financial year. To reach this, it relies on a company-owned, company-operated store model, which management believes allows for better control over the customer experience and after-sales service compared to a franchise-led approach.
The Indian watch retail sector remains highly competitive. Just in Time faces pressure from established players like Ethos and Titan’s Helios chain, both of which have a significant national presence. These competitors also target the mid-to-premium consumer segment, meaning Just in Time must continue to differentiate itself through its store footprint and service quality to maintain its market share. The company currently supports its physical presence with a digital retail network that covers 14,000 pin codes.
Investors considering the company’s potential entry into the public market should note several operational risks. Running a large network of company-owned stores requires significant capital and carries high fixed costs, known as execution risk, especially as the company plans to open 35 additional stores this year using internal cash flows. Furthermore, the retail watch business is highly dependent on discretionary consumer spending, which can fluctuate based on broader economic conditions and interest rates.
The key monitorable for the business will be its ability to scale revenue toward the ₹1,000 crore target while managing the costs associated with its aggressive store expansion. As the company moves closer to a public listing, market observers will track its profitability margins, debt levels, and the management's ability to compete with larger, established retail chains.