Lighthouse Funds invests Rs 229Cr in luggage brand Safari Industries

Lighthouse Funds, a mid-market consumer and healthcare-focused private equity firm, recently announced its investment of Rs 229 crore in Safari Industries (India) Ltd., a manufacturer of luggage and travel accessories. 

“The Indian luggage market remains highly unorganised, and we intend to leverage Lighthouse’s experience in building high-quality brands as we penetrate deeper into it,” said Sudhir Jatia, Chairman and Managing Director of Safari Industries.

Expanding market reach

Safari Industries, known for its diverse range of hard and soft luggage, rolling bags, and backpacks, boasts over 800 SKUs across various categories and more than 9,300 customer touch-points, both online and offline. 

Sudhir Jatia, CMD of Safari Industries, said, “The Indian luggage market remains highly unorganised, and we intend to leverage Lighthouse’s experience in building high-quality brands as we penetrate deeper into it.”

What did Lighthouse say about Safari Industries? 

Sachin Bhartiya, Co-founder and Partner at Lighthouse Funds, highlighted the Indian luggage market's potential, driven by increasing leisure travel, wedding spending, and significant improvements in the country's transportation infrastructure. 

“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," he said.

Lighthouse investment in India

Lighthouse Funds has been investing in consumer and healthcare brands in India since 2007. The firm has invested in over 30 companies, including Nykaa, Fabindia, and Duroflex. The current investment comes from its fourth fund, which recently received Rs 400 crore backing from National Investment and Infrastructure Fund Ltd’s Fund of Funds.