Leading Fashion Jewellery brand "Sukkhi" raises $7 million from Carpediem Capital & Duane Park

Sukkhi Online Private Limited, a leading fashion jewellery brand selling ethnic and contemporary designs under the brand "Sukkhi", has raised $7 million from Carpediem Capital and Duane Park.

Sukkhi is one of the largest multi-category fashion jewellery brands in India catering to men and women. It started off as an online-only brand and has widened its reach to 27 different marketplaces, including 2 international ones. The company launched its own website Sukkhi.com in October 2016, which now contributes to one-third of overall revenues.

Bhavesh Navlakha, Founder & CEO, Sukkhi, said, "Sukkhi has entered in its next phase of growth wherein the funding will largely be used to grow "Sukkhi" as an omnichannel brand in order to reach last mile customers across India and globally. We are excited to have Carpediem Capital and Duane Park support us in building a fashion jewellery brand, with unique designs at the best prices, for customers from all walks of life."

As part of the investment, Anurag Bhargava of Duane Park has joined the board as Chairman, and Hithendra Ramachandran of Carpediem Capital has joined as Director.

Anurag Bhargava said, "Sukkhi is a formidable brand in the Fashion Jewellery segment with great designs, superior quality, and a wide range of products. The company 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, "Over the last 5 years, Sukkhi has grown as a highly reliable consumer brand, driven by design, quality assurance through warranty, and competitive pricing. We believe that fashion jewellery is poised to grow leaps, and Sukkhi will play a key role in building this category."