Jewellery brand Sukkhi raises Rs 51 crore from Carpediem Capital, Duane Park

By

Maverick Martins

Published
Oct 31, 2018

Mumbai-based fashion jewellery brand Sukkhi Online Private Limited has managed to raise Rs 51 crore (approx $7 million) from Carpediem Capital and Duane Park.

The funds will be used to grow Sukki as an omni-channel brand as the company’s looks to widen its reach across India and global markets.
 
As part of the investment, Anurag Bhargava of Duane Park will be leading the Sukki board as Chairman while Hithendra Ramachandran of Carpediem Capital will be one of the Directors in the firm.

Commenting on the investment, Bhavesh Navlakha, Founder & CEO in  a statement, said, “Sukkhi has entered in its next phase of growth wherein the funding will largely be used to grow Sukkhi as an omni-channel brand in order to reach last mile customers across India and globally.”
 
Anurag Bhargava, added, “Sukkhi has a highly motivated and talented team, led by Bhavesh, and I am excited to join the board as Chairman to shepherd growth in the online channel as well as offline channels, including kiosks, shop-in-shops, and exclusive outlets.”
 
Hithendra Ramachandran, Managing Director, Carpediem Capital said, “Fashion jewellery has been a large but highly fragmented market. We believe that fashion jewellery is poised to grow leaps, and Sukkhi will play a key role in building this category.”
 
Bhavesh Navlakha, founded Sukkhi in 2012, has been growing at a CAGR of over 100 percent since inception and is one of India’s largest multi-category fashion jewellery brands catering to men and women.
 
The brand sells on 27 different marketplaces, including two international ones besides its own website Sukkhi.com. Sukki claims to be one of the leading highest selling brands in the fashion jewellery category on Amazon and Flipkart.