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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.

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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.

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.

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.

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.

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.

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.

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.

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.

Nykaa backer Lighthouse on track to strike bet in jewellery space

VCCircle

VCCircle · 1y ago

Nykaa backer Lighthouse on track to strike bet in jewellery space

Mid-market private equity firm Lighthouse Funds, known for its investments in companies like Nykaa and Fabindia, is reportedly preparing to make its first investment in the fashion jewellery sector. The firm is currently in advanced discussions for a potential investment in this space. Lighthouse Funds has a strong track record in the retail and consumer space, and this move highlights their interest in exploring new opportunities within the sector.

Aditya Birla fashion raises stake in Tarun Tahilani brand for for Rs 127 Cr

YourStory

YourStory · 1y ago

Aditya Birla Fashion and Retail Ltd has increased its stake in Goodview Fashion Pvt Ltd by 17.5%, acquiring a majority stake of 51% for Rs 127.42 crore. Goodview Fashion, which owns the ethnic fashion brand Tarun Tahiliani, has now become a subsidiary of Aditya Birla. The acquisition was made through a secondary acquisition from existing shareholders, and no regulatory approvals were required. Goodview Fashion reported a revenue of Rs 148 crore in the last fiscal year. In a separate development, Aditya Birla Group recently announced a $50 million investment in a manufacturing and R&D centre in Texas.

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