Fashion Jewellery Brand Kushal's Secures INR 284 Cr in Series B Led by Lighthouse With the raised funding, Kushal's aims to strengthen its brand and scale its retail presence.
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Bengaluru-based fashion and silver jewellery brand, Kushal's announced that It has raised INR 284 crore funding in Series B round from the private equity firm Lighthouse.
Lighthouse invested through its recently raised fourth private fund, Lighthouse India IV AIF. The investment round also included a secondary buyout, giving a partial exit to Kushal's first institutional investor, India SME Investments, which invested in the brand in 2019.
Kushal's aims to use the raised funds to strengthen its brand and scale its retail presence.
Manish Gulechha, Co-Founder of Kushal's Retail, said, "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."
Founded in 2006 by the Gulechha family, Kushal's offers a diverse range of fashion jewellery for weddings, festivals, occasions and everyday wear. It sells its products online and through more than 75 physical locations in more than 25 Indian cities.
Currently, it operates in cities like Bangalore, Hyderabad, Chennai, Pune, Indore, Chandigarh and others in India.
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."
