Jewellry brand Kushal’s secured an investment of Rs 284 crore, or roughly $34 million, from the private equity group Lighthouse. India SME Investments, Kushal’s first institutional shareholder, received a partial exit through a secondary buyout that was part of the investment round.
The capital will go into growing the brand and the store space. In the following three to four years, the company intends to open over 300 outlets. In over 25 cities, including Bengaluru, Hyderabad, Chennai, Pune, Indore, and Chandigarh, Kushal’s currently operates more than 75 outlets, as reported by The Economic Times.
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Kushal’s Fashion Jewellery is a Bangalore-based chain of Fashion Jewellery stores currently having stores in Bangalore, Chennai, Hyderabad, Mysore, Coimbatore, Chandigarh, Kochi, Trivandrum, Ahmedabad, and others.
According to Manish Gulechha, the company intends to go public in the next five or six years and is looking for 300–400 outlets throughout India in the ensuing four to five years.
Anshul Jain, managing director at Lighthouse, said, “The company (Kushal’s) 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.”
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About Kushal’s
The D2C brand Kushal’s was established in 2006 by Manish, Nandish, and Kalpesh Gulechha. It creates fashionable jewelry for a variety of events.
