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Lighthouse invests Rs 284 crore in jewellery brand Kushal’s

Economic Times

Economic Times · 1y ago

Lighthouse, a private equity firm known for backing consumer brands, has invested INR 284 crore (around $34 million) in fashion and silver jewellery brand Kushal's. The investment will be used to build the brand, expand retail presence, enhance digital capabilities, and hire new talent. Kushal's plans to open 300 new stores in the next few years, targeting north India and Maharashtra. With a growing demand for daily wear and sterling silver jewellery, the company's online platforms contribute to 20% of its sales. Lighthouse sees strong growth potential in the changing consumer preference for fashion jewellery.

Related News

Fashion jewellery brand Kushal’s raises Rs 284 Cr from Lighthouse

Inshorts · 1y ago

Kushal's, a fashion and silver jewellery brand, has raised Rs 284 crore in a Series B funding round from the mid-market private equity firm Lighthouse. The capital infusion also includes a secondary transaction, giving a partial exit to Kushal's first institutional investor, India SME Investments, which invested in the brand in 2019.

Jewellery Brand Kushal’s Bags $34 Mn From Lighthouse’s Fourth PE Fund

Inc42 · 1y ago

D2C jewellery brand Kushal’s has secured INR 284 crore ($34 million) in a Series B funding round led by Lighthouse’s fourth alternative investment fund. The investment will be used to enhance brand building, technology, hiring, and expand retail operations. Kushal's, founded in 2006, manufactures fashion jewellery for various occasions. The company plans to open 300-400 stores in India over the next few years and aims to go public within five to six years. Lighthouse's investment marks its first from its newly raised private equity fund.

Lighthouse backs jewellery chain as another PE firm partially exits

VCCircle

VCCircle · 1y ago

Lighthouse backs jewellery chain as another PE firm partially exits

Private equity firm Lighthouse Funds has invested INR 284 crore ($34.3 million) in jewellery brand Kushal's Retail, providing a partial exit for India SME Investments. The funding marks the first investment by Lighthouse from its fourth private equity fund. Kushal's Retail, founded in 2006, sells its products through 75 stores across India and online platforms. The capital will be used for brand building, technology enhancement, talent acquisition, and retail expansion. Lighthouse Funds has previously backed companies such as Fabindia and Wow! Momo.

Fashion jewellery brand Kushal’s raise ₹284 crores in funding round led by Lighthouse

Thehindubusinessline

Thehindubusinessline · 1y ago

Indian fashion and silver jewellery brand, Kushal's, has secured ₹294 crore ($40 million) in funding in a round led by Lighthouse India Fund IV AIF. The investment will be used for brand building, technology upgrades, and retail expansion. Kushal's, founded in 2006, offers a wide range of fashion jewellery through its stores across 25+ Indian cities and online channels. The company aims to utilise the investment to accelerate its growth and continue delighting consumers with its premium product range. Lighthouse's portfolio includes well-known Indian brands such as Nykaa and Fabindia.

Jewellery retailer Kushal’s eyes 50% growth after Lighthouse round

The Arc Web

The Arc Web · 1y ago

Jewellery retailer Kushal’s eyes 50% growth after Lighthouse round

Bengaluru-based jewellery retailer Kushal's has raised $34 million in funding from private equity firm Lighthouse to expand its business. The company aims for 50% revenue growth in FY25, with a projected 40% growth for the current fiscal year. Despite having 80% of its sales from physical stores, Kushal's is also focusing on its website and external marketplaces. In FY23, the company reported revenues of Rs 196 crore ($23.6 million) and a net profit of Rs 16 crore ($2 million). The funding round included a secondary component, with India SME Investments selling a portion of its shares.

FabIndia backer Lighthouse invests in premium occasion wear brand Kalki Fashion

VCCircle

VCCircle · 3m ago

Lighthouse Funds has invested Rs 225 crore ($26.4 million) in Kalki Fashion, a Mumbai-based premium bridal and festive wear brand, to help expand its domestic and international retail presence. The deal gives Lighthouse a large minority stake, valuing Kalki Fashion between Rs 1,500 crore and Rs 2,500 crore. Lighthouse, managing over Rs 12,000 crore in assets, has previously invested in companies like Fabindia and Nykaa. The Rainmaker Group advised on the transaction.

Bottomline: Jeweller Kushal’s Retail poised to shine again after decline in Covid

VCCircle

VCCircle · 1y ago

Bottomline: Jeweller Kushal’s Retail poised to shine again after decline in Covid

Jewellery retailer Kushal's Retail, backed by private equity firm Lighthouse, is expected to rebound after a decline due to the Covid-19 pandemic. During the last fiscal year, the company reported a growth of more than 50% in net sales and improved net profitability, outperforming its competitors. Kushal's Retail is known for its zircon jewellery and has successfully navigated the challenging market conditions.

Safari Nets $27 Mn From Lighthouse Fund To Boost Luggage Bags Playbook

Inc42 · 1y ago

Safari Nets $27 Mn From Lighthouse Fund To Boost Luggage Bags Playbook

Indian luggage brand Safari Industries has raised INR 229 crore ($27m) in funding from Lighthouse's fourth alternative investment fund. Lighthouse had also recently invested INR 284 crore in jewellery startup Kushal's. Safari plans to use the investment to penetrate deeper into the Indian market and leverage Lighthouse's experience in building high-quality brands. The company offers a variety of luggage bags and backpacks and claims to have over 800 SKUs and more than 9,300 customer touchpoints online and offline. The Indian luggage industry is projected to grow at a compound annual growth rate of 5.21% by 2028.

Exclusive: Fireside invests in lab grown jewellery brand Aukera

Entrackr

Entrackr · 1y ago

Lab-grown jewellery brand Aukera has raised Rs 26.7 crore (approximately $3.2 million) in its Series A round led by Fireside Ventures. This is the first institutional investment for a year-old omnichannel brand, which mostly deals in diamonds. The board at Aukera Jewellery has passed a special resolution to issue 10 equity and 8,155 Series A CCPS at an issue price of Rs 32,713 each to raise Rs 26.7 crore, its regulatory filing sourced from the Registrar of Companies (RoC) shows. Fireside Ventures spearheaded the Series A round with Rs 23.75 crore while Sparrow Capital and Eternal Emerging Enterprises participated with Rs 1.39 crore and 1.57 crore, respectively. The company will use these funds for expansion and general corporate business, as decided by the board, the filing further added. As per TheKredible’s estimates, the company has been valued at around Rs 124 crore or $15 million post-allotment. This round appears to be an ongoing one and it may raise more capital. Following the fresh proceeds, Fireside Ventures holds a significant 19.20% stake in the company while Sparrow Capital and Eternal Enterprises will command 7.59% and 5.89% of Aukera Jewellery. With the fundraise, the company has also expanded its employee stock options pool with addition of 1,180 options. At present, its total ESOP pool consists of 1,896 options. According to TheKredible estimates, Aukera’s overall ESOP pool is worth Rs 6.20 crore. Founded in 2023, Aukera is a women-centric jewellery brand that offers lab-grown diamond jewellery in white, rose, yellow gold, and platinum. It sells its products through its website and has 2 stores in Bengaluru. The Bengaluru-based firm competes with a clutch of firms including Fiona Diamonds, Limelight Lab Grown Diamonds, and Jewelbox. Aditya Birla-backed GIVA also offers a lab-grown diamond jewellery line.

Lighthouse Funds invests Rs 229Cr in luggage brand Safari Industries

IndianStartupNews

IndianStartupNews · 1y ago

Private equity firm, Lighthouse Funds, has invested Rs 229 crore in Safari Industries (India) Ltd., a prominent luggage and travel accessories manufacturer. Safari Industries, with its wide product range and extensive distribution network, aims to tap into the largely unorganized Indian luggage market. Lighthouse Funds sees great potential in the Indian tourism sector, with increasing leisure travel and improved transportation infrastructure driving demand for branded luggage. The investment in Safari Industries marks another addition to Lighthouse Funds' portfolio of consumer and healthcare brands in India.

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