Skip to main content

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.



from India Retailing https://ift.tt/tVCnIaH
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp...
70 comments
Read more

Sagar Daryani, CEO and Co-founder – Wow! Momo & Saga: From a Kiosk to a Kingdom

Sagar Daryani’s entrepreneurial odyssey from humble beginnings to pioneering success has redefined the landscape of food startups in India. Co-founding Wow! Momo, he has spearheaded the growth of the largest indigenous QSR chain in the country, crafting a remarkable saga of triumph The Genesis: A Visionary Venture Takes Root In 2008, armed with a mere Rs. 30,000 and boundless ambition, Sagar Daryani and Binod Homagai embarked on their entrepreneurial journey while still pursuing their graduation in B.Com Hons from St. Xavier’s College, Kolkata, even before their college results were out. They knew the value for money and boot-strapped to plough back profits and grow their venture. Sagar spearheaded brand expansion, brand creation, and marketing and retail operations. Grew across the city with a strong consumer focus. The early days were hard but keeping track of the money flow was even harder. Believing in the concept of ‘1 rupee saved is 5 rupees earned’, and the lessons they lear...
1 comment
Read more

Homegrown ice cream chain HOCCO to open 250 stores, eyes Rs 400 crore by FY26

Ankit Chona, Founder and Managing Director of HOCCO, delves into the company’s revenue model, growth strategies, and vision for the future… Bengaluru: HOCCO (House of Chonas Collaborative) , the Ahmedabad-based ice cream and quick-service restaurant (QSR) chain, boasts a rich legacy spanning over 70 years, with roots tracing back to pre-independence India. The Chona family has been deeply entrenched in the food industry since 1944, originally operating in undivided Pakistan. Following the Partition, Satish Chona , an engineer with British Overseas Airways Corporation, relocated from Karachi to India. After journeying through multiple cities, he ultimately settled in Ahmedabad, where he established his first QSR outlet in 1953. Three decades later, he expanded into the casual dining segment, launching a restaurant in Baroda while continuing the family’s ice cream manufacturing business. However, in 2017, the company sold its ice cream division to a South Korean firm, shifting its fo...
Post a Comment
Read more