"We strongly believe in the growth story of the footwear industry in India with the current under-penetration and consumer preference shift towards branded wear. Aqualite has achieved scale in the footwear industry, on the back of product quality and relationship with the channel partners," Lighthouse Partner Sachin Bhartiya said.
Aqualite offers more than 6,500 stock keeping units (SKUs) in hawai, non-hawai and shoe product categories.
The company operates through its manufacturing units located across Haryana and Rajasthan. It has a pan-India distribution network of 35,000 retailers, with significant presence in north and east India.
Aqualite Industries is expecting a turnover of over Rs 800 crore in the current financial year.
Aqualite marks the fourth investment for Lighthouse in the current year. Last month, the fund invested Rs 160 crore in Duroflex, a leading mattress brand in south India. In September, it made an investment of Rs 113 crore in beauty retailer Nykaa in June. It also invested Rs 83 crore in Tynor Orthotics, a leading orthotic soft goods brand.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)