Lighthouse Funds, a mid-market shopper and healthcare-focused fund, by its current fund Lighthouse India Fund IV AIF has invested ₹229 crore in Safari Industries (India) Ltd., an organization that producers baggage and journey equipment.
Sudhir Jatia, CMD, Safari Industries stated, “The 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.”
Sachin Bhartiya, Cofounder and Partner, Lighthouse Funds stated, “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.”
