Mohit Jain’s entrepreneurial journey didn’t begin with handbags — it started at 20, in a small room in Canada, with a dropshipping business targeting India. But even as he grew that venture over two and a half years, he felt something missing. “It just wasn’t fulfilling,” Jain says. “I wanted to create something with real brand value, something disruptive.” That desire sparked the inception of Miraggio — an affordable luxury handbag brand built on aspiration, access, and a distinctly Indian identity.
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Miraggio wasn’t born out of fashion education or deep-rooted industry ties. It was born from consumer observation. Jain noticed how even he, like many others, gravitated toward international labels like Zara over Indian brands — not because of price, but because of perception. “We’re willing to pay more for something aspirational,” he explains, “but most Indian brands lose focus on brand-building in the pursuit of scale.”
That led Jain to explore a white space in the Indian market: handbags priced between ₹2,000 and ₹6,000. Below that threshold, the market was crowded with indistinct mass-market players. Above it, the shelves were dominated by international names — often at inflated prices compared to their overseas tags. Strikingly, there was no Indian handbag brand with revenues exceeding ₹300 crore. Jain saw that not just as a statistic — but as an opportunity.
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With a goal to become the “Zara of handbags,” Miraggio now drops new collections every month, tapping into diverse use cases — party, work, casual, and travel — to drive repeat purchases. And it’s not just about aesthetics. “We make bags that look like ₹10,000 bags, but cost much less — without compromising on materials or workmanship,” he says. That secret sauce: rigorous design innovation balanced with commercial logic, driven by data and deep consumer insight.
Today, Miraggio is among the top four handbag brands on Myntra and is expanding into backpacks and laptop bags for women — a segment Jain says is underrepresented. “The vision,” he adds, “isn’t just to sell bags. It’s to build an iconic brand from India that women love, trust, and feel proud to carry.”
