Private equity platform Lighthouse announced on Wednesday a substantial investment of INR 284 crore in the renowned fashion and silver jewellery brand, Kushal’s.
The infusion of funds aims to facilitate various aspects of Kushal’s expansion strategy, including brand building, recruitment efforts, technological enhancements, and the substantial expansion of its retail footprint.
This investment, led by Lighthouse India Fund IV AIF, involves a secondary purchase from India SME Investments, the initial institutional investor in Kushal’s. As part of the deal, India SME Investments will partially divest its holding, marking a strategic transition for both parties.
Established in 2006, Kushal’s has established a robust retail presence with over 75 stores spanning 25 cities across India, in addition to its online sales platform.
Anshul Jain, Managing Director of Lighthouse, expressed confidence in Kushal’s potential to organize and dominate the fashion jewellery market in India. He emphasized the brand’s premium product range and highlighted the increasing significance of fashion jewellery in people’s lifestyles.
Co-Founder of Kushal’s, Manish Gulechha, conveyed enthusiasm about the partnership with Lighthouse for the brand’s next phase of growth. He emphasized the value of Lighthouse’s guidance and support, leveraging their extensive experience in developing leading retail brands.
Lighthouse, with a track record of investments since 2007, has a diversified portfolio that includes successful ventures such as Bikaji Foods, Nykaa, Duroflex Mattresses, Fabindia, Ferns N Petals, Cera Sanitaryware, Dhanuka Agritech, and Kama Ayurveda.
The investment from Lighthouse signifies a pivotal moment for Kushal’s, poised to harness the financial backing and strategic support for its ambitious expansion plans in the competitive Indian jewellery market.
