Fashion jewellery brand Kushal raises Rs 284 crore from Lighthouse

Fashion jewellery brand Kushal has raised Rs 284 crore ($36 million) in a series B funding round from private equity firm Lighthouse.

The investment by Lighthouse will see the partial exit of Kushal’s first institutional investor, India SME Investments, which invested in the brand in 2019.

The company plans to utilise the funds to expand its retail presence, brand building, and widen its reach in the Indian fashion jewellery market.

Commenting on the funding, Manish Gulechha, co-founder of Kushal in a statement said, “Kushal 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.”

Anshul Jain, managing director at Lighthouse added, “Kushal 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.”

Founded in 2006 by the Gulechha family, Kushal retails its products through its 75-plus stores across 25 cities in India as well as through online channels.