Motilal Oswal Private Equity (MoPE) has announced that it has led an investment of Rs 90 crore in Bengaluru-based omnichannel fashion jewelery retailer Kushal K Retail Pvt Ltd. India Business Excellence Fund III, which is managed or advised by Motilal Oswal Private Equity, has given Rs 85 crore to the Bengaluru-based omni-channel retailer, while the remaining amount has come from existing investor India SME Investments Fund I, according to an official statement. Motilal Oswal Investment Banking has acted as financial advisor to Kushal for the transaction.
Established in 2006, Kushal Retail, owned by the Gulecha family, has over 43 brand outlets primarily located in southern Indian states. The company also sells through its website and boasts of a portfolio of over 12,000 designs in various collections. Kushal’s retail is positioned against competitors like GIVA and Melorra in the direct-to-consumer jewelery space.
Commenting on the investment, Vishal Tulsyan, Managing Director and CEO, Motilal Oswal Private Equity, said that the company expects the fashion jewelery segment in India to be a $6-7 billion industry in the next 4-5 years, primarily driven by growth. Inspired by. Consumption by Millennial Segment. Though it is largely unorganized, MoPE expects this segment to move towards organized and online retail soon.
Kushal with its intricate designs, strong focus on product quality and a premium in-store shopping experience has created a leading brand in the segment and will be the largest player in the fashion jewelery segment like Tanishq in the genuine jewelery segment. ,” said Tulsyan.
Manish Gulecha, Promoter of Kushal Retail Pvt Ltd. Ltd. said the partnership with MOPE will help the company accelerate its growth plans. He added that MOPE’s experience and support in the consumer segment will add immense value to the company.
The new funds will be used by Kushal to increase his store presence, strengthen the online channel, invest in the brand and build an efficient organization.
India SME Investments, an existing investor in Kushal Retail, has also infused additional cash in the latest round of funding. India SME Investments first invested in 2019 and the current investments are at very high valuations. However, the transaction details are not yet available. Mitin Jain, Founder, India SME Investments said that MoPE’s investment reiterates the potential SME segment offers to equity investors in India.
read all breaking news , today’s fresh news And IPL 2022 Live Updates Here.