Feb 28: Fashion and silver jewellery brand Kushal has secured Rs. 284 crore in a Series B funding round to further infuse investments in brand building, technology, people and retail expansion.
In addition to receiving more money, the fashion and jewelry brand is also allowing one of its early investors, India SME Investments, to sell some of its shares, giving them a partial exit. This investor had put money into the company back in 2019. Kushal’s plans to use this new money to grow its brand and expand its stores. Started in 2006 by the Gulechha family, the company sells its products in over 75 stores across 25 cities in India, as well as online.
On the investment, Kushal’s Retail Co-founder Manish Gulechha 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.”
Kushal Perfectly Poised to Grow Strong Macro Tailwinds
On the funding into fashion and jewellery brand, Lighthouse Managing Director Anshul Jain said, “Kushal’s is at the forefront of organizing 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.”
The latest round of funding was raised from the mid-market private equity firm Lighthouse. Lighthouse invested through its newly raised fourth private fund, Lighthouse India IV AIF.
As a mid-market private equity firm, the other milestone investments of Kushal’s comprise Bikaji Foods, Nykaa, Duroflex Mattresses, Fabindia, Ferns N Petals, Cera Sanitaryware, Dhanuka Agritech, Kama Ayurveda, Poly Medicure, Shaily Engineering, Tynor Orthotics, Unibic Foods, and Wow! Momo, among others.
