Income Tax Department Raids Rolex, Cartier Retailer Kapoor Watch Company: Report

Kapoor Watch Company, which is 55-year old, is part of a worldwide network of official Rolex retailers allowed to sell and maintain Rolex watches

IT recovered a large number of incriminating evidences, in the form of hard copy documents and digital data have been found and seized, according to the report. ( Image Source :Getty )

Income Tax (I-T) department is conducting searches at 55-year old Kapoor Watch Company, sources told news agency ANI.

According to the report, the search which started on Monday morning, around 20 premises of Kapoor Watch Company are covered in this search.

Income Tax department raids Kapoor Watch Company, retailer of Rolex, Cartier, Tag Heuer brands

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Kapoor Watch Company is part of a worldwide network of official Rolex retailers allowed to sell and maintain Rolex watches. Recently Film Star Ranveer Kapoor unveiled the first India limited-edition Franck Muller variants in a gala event organised by Kapoor Watch Company.

Kapoor Watch Co is also the Indian retailer of Audemars Piguet, Bvlgari, Cartier, Omega, and Tag Heuer brands.

Citing sources privy to the development ANI said, all the showrooms and premises of promotors are covered in this search. During the course of the search operation, a large number of incriminating evidences, in the form of hard copy documents and digital data have been found and seized, the sources said.

Kapoor Watch Company operates 13 stores in the National Capital Region.

Earlier this month, Kapoor Watch Company organised an event where Film star Ranveer Singh unveiled the first India limited-edition Franck Muller variants from the hallmark Vanguard collection. Ranveer Singh is the Indian brand ambassador of Franck Muller watches.

Kapoor Watch Company has a tie-up with Franck Muller to exclusively retail a 150-piece, first India limited-edition watch collection with a green leather strap, these detailed timepieces come in two options - steel and gold, and rose gold.

The luxury branded watches sold by Kapoor Watch Company are priced in lakhs. The company reported revenue of Rs 340 crore in FY22, up by 50 per cent from 2019-2020.