Nasher Miles, a Mumbai-based startup specializing in designer bags, made waves on Shark Tank India-3 by achieving a valuation of INR 200 crore. Securing unanimous approval from Aman Gupta, Anupam Mittal, Ritesh Aggarwal, Vineeta Singh, and Namita Thapar, it became the second startup of the season to clinch a deal with all five Sharks.
Founded by Abhishek Daga, Lokesh Daga, and Shruti Kedia Daga, this company stands out for its stylish travel gear. Offering over 100 shades and styles inspired by popular tourist destinations, it caters to a wide range of tastes.
Nasher Miles aims to elevate the fashion standards of Indian travelers with their range of hard-sided bags, backpacks, and other travel essentials. Their commitment to excellence and variety is evident in the products available on their website as well as leading e-commerce platforms. More than just a travel brand, Nasher Miles is a fashion-forward luggage company on a mission to make chic travel accessories accessible to all.
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Nasher Miles offers a diverse range of travel essentials to cater to different preferences and needs, including hard-sided and soft-sided bags, backpacks, and related travel accessories. Their products are available for purchase on their website and popular e-commerce platforms such as Amazon and Flipkart.
Nasher Miles strategically leverages the expanding travel and e-commerce sectors to position itself as a unique contender in the luggage market, prioritizing elegance, diversity, and affordability. With the surge in travel, a burgeoning middle class, and increasing demand among younger consumers for distinctive travel products, both the global and Indian luggage industries present significant opportunities for growth.
By prioritizing unique designs and offering a wide array of colors, Nasher Miles aims to differentiate itself in the competitive luggage market and appeal to style-conscious travelers.
To expedite their mission of revolutionizing travel gear through a blend of affordability, durability, and design, the founders sought a INR 3 crore investment with a 0.75% interest rate, valuing the business at INR 400 crore. This proposition caught the attention of the investors—Anupam, Aman, Vineeta, Namita, and Rithesh. They collectively offered INR 3 crore for a 1.5% equity stake and a 1% royalty until the initial INR 3 crore investment was recouped, thereby valuing the business at INR 200 crore.
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