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Miraggio targets crossing the Rs 100 crore mark by the end of March 2025

The company plans to enter offline retail with experiential stores, launch quick commerce for faster deliveries, and expand into laptop bags, backpacks, wallets, and accessories

Founded in 2019 by Mohit Jain, Miraggio has quickly established itself as a go-to brand for fashion-forward bags. Backed by Magnetic (East Eight Six Advisors) and Seven Rivers Holding, the company has been able to scale its operations and expand its product portfolio.

Miraggio’s best-selling products include a range of versatile and trendy bags, such as Denice, Jada, Rosalind, Dakota, Cruise, Sarah, Isabella, Bella, and Irene. These bags are designed with a customer-centric approach, emphasising versatility, functionality, and longevity. The brand takes pride in being the only Indian brand to introduce new bag designs every month, ensuring fresh styles for its customers.

In the financial year 2023-24, Miraggio achieved a Gross Merchandise Volume (GMV) of Rs 50 crore. Looking ahead, the brand has set an ambitious revenue target of over Rs 100 crore by March 2025, backed by 40% substantial growth in the last quarter and profitable EBITDA.

As part of its expansion plans, Miraggio has successfully executed its first-ever collection launch event, a major milestone for the brand. Additionally, it is set to introduce the second edition of the Deme collection in collaboration with renowned fashion designer Gabriella Demetriades, further strengthening its positioning in the fashion space.

Miraggio is also making its offline retail debut with experiential stores, enhancing customer engagement through a hands-on shopping experience. At the same time, the brand is preparing to launch quick commerce services, ensuring faster product deliveries. Expanding beyond handbags, Miraggio is diversifying into laptop bags, backpacks, wallets, and smaller accessories, catering to evolving customer needs.

To support its rapid growth, Miraggio relies on advanced technology and business solutions. Some of the top enablers include Shopify, Gokwik, Unicommerce, and Clevertap. Additionally, it has developed an in-house inventory planning system to optimize stock management and forecasting.

With a strong focus on innovation, strategic expansion, and customer satisfaction, Miraggio is set to strengthen its foothold in India’s premium handbag market.

The post Miraggio targets crossing the Rs 100 crore mark by the end of March 2025 appeared first on India Retailing.



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