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Fashion and silver jewellery brand Kushal’s has raised ₹294 crore in an funding round led by Lighthouse India Fund IV AIF.
The investment round also includes a secondary buyout, allowing a partial exit for Kushal’s first institutional investor, India SME Investments. It had invested in the company in 2019.
Founded in 2006 by the Gulechha family, Kushal’s offers a diverse range of fashion jewellery for weddings, festivals, occasions and everyday wear. Kushal’s retails its products through its 75+ stores across 25+ cities in India and online channels.
Retail expansion
“Kushal’s was founded with a vision to offer women the most exclusive and on-trend fashion jewellery; combined with exceptional quality and best-in-class shopping experience. The funding will facilitate investments in brand building, technology, people and retail expansion. We are thrilled to have Lighthouse as a partner in our journey. As we gear up for the next leg of our growth, we look forward to their guidance and support, given their extensive experience in building leading retail brands. With their collaboration, we hope to accelerate our growth, delighting consumers across the country,” said Manish Gulechha, Co-Founder of Kushal’s Fashion Jewellery.
Anshul Jain, Managing Director at Lighthouse, added, “Kushal’s is at the forefront of organising the large, fragmented fashion jewellery market in India with its premium product range catering to the needs of aspirational consumers. The Company is uniquely placed to grow with strong macro tailwinds in the category and changing consumers’ preference for fashion jewellery that is becoming an integral part of their lifestyle. We are pleased to partner with the Gulechha family in this journey and are very excited about the Company’s future.”
Lighthouse’s marquee investments include leading Indian brands like Bikaji Foods, Nykaa, Duroflex Mattresses, Fabindia, Ferns N Petals, Cera Sanitaryware, Dhanuka Agritech, Kama Ayurveda, Poly Medicure, Shaily Engineering, Tynor Orthotics, Unibic Foods, Wow! Momo, among others.
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