Lighthouse invests Rs 284 crore in fashion and silver jewellery brand Kushal's, aiming to expand its retail presence and brand building. The investment includes a secondary purchase from India SME Investments.
Mumbai, Feb 28 (PTI) Private equity platform Lighthouse on Wednesday said it has invested Rs 284 crore in fashion and silver jewellery brand Kushal's.
The money raised will be deployed for brand building, hiring people, technology and also scaling up the retail presence.
The investment by Lighthouse India Fund IV AIF also includes a secondary purchase from India SME Investments. India SME Investments was the first institutional investor in Kushal's and is partially selling its holding through the deal, according to a statement.
The company founded in 2006 retails its products through more than 75 stores across 25 cities in India and also online.
Lighthouse Managing Director Anshul Jain said the company is organising the large, fragmented fashion jewellery market in India with its premium product range and added that fashion jewellery is becoming an integral part of people's lifestyle now.
"As we gear up for the next leg of our growth, we look forward to their (Lighthouse) guidance and support, given their extensive experience in building leading retail brands," the company's Co-Founder Manish Gulechha, said.
Lighthouse has been investing since 2007 and some of its bets include Bikaji Foods, Nykaa, Duroflex Mattresses, Fabindia, Ferns N Petals, Cera Sanitaryware, Dhanuka Agritech and Kama Ayurveda, the statement said.
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