Blinging with Success: D2C Jewellery Brand Kushal’s Secures $34 Million Funding
The Indian direct-to-consumer (D2C) jewellery landscape continues to sparkle, with Mumbai-based brand Kushal’s securing a significant funding round of $34 million (INR 284 crore). This investment, led by Lighthouse India’s fourth private equity fund, fuels the brand’s ambitious growth plans and underscores the rising potential of the D2C jewellery market in India.
Founded in 2018 by Ishita Khanna and Shaurya Mehta, Kushal’s has carved a niche for itself by offering contemporary and lightweight jewellery crafted with high-quality diamonds and gemstones. The brand’s core strength lies in its omnichannel presence, combining a user-friendly online platform with offline experience centers in major cities. This strategic approach allows them to cater to the evolving preferences of modern consumers who seek a seamless online-to-offline shopping journey.
The $34 million funding is a testament to Kushal’s impressive growth trajectory and the potential the investors see in the brand’s future. The fresh capital will be used for strategic expansion, including:
- Scaling up online and offline presence: This will involve expanding their online reach, opening new experience centers in key cities, and strengthening their omnichannel capabilities.
- Product diversification: Kushal’s plans to broaden its product portfolio beyond traditional jewellery, potentially venturing into new categories like fashion accessories and personalized offerings.
- Brand building and marketing: The brand aims to invest in marketing initiatives to increase brand awareness and establish itself as a leading player in the D2C jewellery segment.
This investment by Lighthouse India is a strategic move for both parties. Lighthouse, known for its investments in high-growth companies, gains exposure to a flourishing market segment. Meanwhile, Kushal’s leverages Lighthouse’s expertise and network to accelerate its growth and solidify its position in the competitive D2C jewellery space.
The success story of Kushal’s highlights the growing consumer preference for convenience, transparency, and personalized experiences offered by D2C brands. With increasing disposable income and a growing internet user base in India, the D2C jewellery market is projected to witness even more significant growth in the coming years. As brands like Kushal’s continue to innovate and adapt to evolving consumer demands, the future of the D2C jewellery landscape in India looks bright and brimming with potential.
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