Lighthouse Funds invests INR 229 crores in Safari Industries, one of the largest Indian luggage brands
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Lighthouse Funds, India’s leading mid-market consumer and healthcare-focused fund, through its recent fund Lighthouse India Fund IV AIF has invested INR 229 crores in Safari Industries (India) Limited, a leading luggage and travel accessories brand. Safari marks the second investment by Lighthouse from its newly raised fourth private equity fund.
Safari Industries is India’s third-largest and fastest-growing luggage Company. The Company manufactures and retails a diverse range of hard and soft luggage, rolling bags and back-packs. Safari has outpaced the industry growth through a combination of trendy & faster design launches while focusing on quality and affordability. Today, the Company has 800+ SKUs across categories and 9,300+ online and offline customer touch-points.
Sudhir Jatia, Chairman and Managing Director of Safari Industries commented, “We are delighted to welcome Lighthouse Funds into Safari. Indian luggage market still remains highly unorganised, and we intend to leverage Lighthouse’s experience in building high-quality brands as we penetrate deeper into the Indian market.”
Speaking about the investment, Sachin Bhartiya, Cofounder and Partner at Lighthouse Funds commented, “The Indian luggage market is a beneficiary of increasing leisure travel and wedding spends. Over the past decade, we have seen dramatic upgrades in rail and road connectivity and significant growth in the aviation sector. India’s tourism potential is huge, and we see structural tailwinds for the sector. Safari is uniquely positioned to capture this opportunity with the confluence of expanding discretionary spends and changing consumer behaviour in favour of branded luggage with aspirational appeal.”
Lighthouse is a leading mid-market private equity firm focused on growth investments in the consumer and healthcare space. The firm has been investing in India since 2007 and has invested in over 30 companies across consumer and healthcare brands. Lighthouse’s marquee investments include leading Indian brands such as Bikaji Foods, Nykaa, Duroflex Mattresses, Fabindia, Ferns N Petals, Cera Sanitaryware, Dhanuka Agritech, Kama Ayurveda, Kushal’s Retail, Poly Medicure, Shaily Engineering, Tynor Orthotics, Unibic Foods, Wow! Momo, among others.
