Lighthouse Funds invests Rs 284 crore in jewellery brand Kushal’s
Private equity firm Lighthouse Funds, which has backed consumer brands such as Bikaji Foods, Wow Momos and Nykaa, has invested Rs 284 crore (around $34 million) in fashion and silver jewellery brand Kushal’s.
The investment round also includes a secondary buyout, allowing a partial exit for Kushal’s first institutional investor, India SME Investments.
Elevate Your Tech Prowess with High-Value Skill Courses
Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitMITMIT Technology Leadership and InnovationVisitThe funds will be used for building the brand and expanding its retail footprint. The company aims to open more than 300 stores in the next three to four years. Currently, Kushal's has over 75 stores in more than 25 cities across India, including Bengaluru, Hyderabad, Chennai, Pune, Indore and Chandigarh.
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-108073740»>
The company plans to expand its presence in north India, including Delhi-NCR, and Maharashtra, building on its strong presence in south India. “We have around 25 stores in Bangalore alone,” cofounder Manish Gulechha told ET.
The funds will also be used to build technology. “We are investing in technology to build a strong omnichannel brand and significantly enhance our digital presence. There will also be investment in hiring, there are many technology teams that will be built. Finally, we will be increasing our merchandise design capabilities,” Gulechha said.
Founded in 2006, the Bengaluru-based company offers a wide range
