Homegrown luxury bag maker Ahikoza targets global scale, 100k clients in 3 years

Ahikoza is focusing on scaling customer acquisition, enhancing its e-commerce presence, and expanding into top-tier boutiques in India and worldwide

Bengaluru: Luxury is no longer a category reserved for that tiny slice of billionaires and HNIs in India, but is now tangible for the flourishing middle class. Today’s entrepreneurs feel confident launching luxury brands in the country, while established players are rolling out luxe lines to cater to these voracious consumers.

Artisanal handbag brand Ahikoza began testing the waters less than a decade ago.

Founded modestly in 2016 by Namrata Karad, a perceptive businesswoman with a background in fashion and media, Ahikoza has unexpectedly earned red carpet appeal. 

The brand has graced the arms of a handful of celebrities like Kate Hudson, Camila Cabello, Doja Cat, Alia Bhatt, and Kareena Kapoor Khan, making appearances at prestigious events such as Cannes, Grammys, Met Gala, and even Oscars.

With Brahm Group acquiring a majority stake Ahikoza by Brahm is gearing up to spread its wings both in India and overseas. The brand targets 15% year-on-year (YoY) growth and is poised to become a formidable force in the $40 billion global luxury handbag market.

In an exclusive interaction with IndiaRetailing, Namrata Karad, Founder and Creative Director of Ahikoza, offers insights into the brand’s journey since inception, its distribution strategy, partnership with the Brahm Group, product portfolio, expansion plans, and more.

Edited excerpts…

What led you to launch a luxury handbag brand?

It began with a genuine love for the artistry and utility of handbags. Over time, I observed a distinct gap in the Indian market. On one side were the established, aspirational luxury brands that dominated the space; on the other, fast-moving, trend-driven labels that often lacked longevity.

I wanted to create a brand that struck a balance between these two extremes, offering high-quality pieces that weren’t overly reliant on logos, but still carried a sense of prestige and individuality.

What does your brand name represent?

Ahikoza is derived from two Sanskrit words: ‘Ahi’, which refers to dragons and serpentine forms in mythology, which are symbols of strength and mystique and ‘Koza’, meaning the core or essence of the heart.

For me, dragons embody power, elegance, and presence – qualities I envisioned for the brand. Equally important was the intention to place authenticity and mindful craftsmanship at the core of a modern luxury experience. This philosophy defines what Ahikoza represents.

How much seed capital did you put into launching the brand?

When I first set out to build the brand, I approached my father for initial investment and he generously offered me $5,000. Of course, in the world of business, that amount provides very limited runway but I accepted it with gratitude and immediately began investing in research and development. This financial constraint, while challenging, forced me to be extremely strategic and take only calculated risks. Without the luxury of excess capital to experiment freely, I had to make every decision count. 

How did the business evolve in its initial stages?

In the early days, Ahikoza grew purely through word of mouth within my personal network. I participated in small trunk shows and curated exhibitions to build organic visibility. 

Celebrity placement was never the initial goal, nor did I have a marketing budget. I personally reached out to stylists, editors, and industry insiders to introduce the brand. Once they experienced the quality firsthand, interest followed, and the brand began appearing in high-profile spaces.

I managed all PR myself in the beginning and post-pandemic, I reinvested my capital into the brand, allowing me to partner with a professional PR agency. This has expanded our presence both in India and globally. 

Through which channels do you distribute your products?

We currently retail through select luxury boutiques across India, Indonesia, and Singapore. In India, we are stocked at esteemed heritage boutiques such as Lamil and Ogon.

Our primary sales channel is curated trunk shows, which are experiential events where customers can engage with the products, customise colours, have their initials hand-painted, and enjoy a personalised experience. This format has proven to be a strong driver of both sales and brand connection.

Moreover, we are in the process of revamping our D2C website, set to launch in July. It will feature concierge services, digital lookbooks, bespoke request options, and dedicated account management. We have invested significant time in building this and are optimistic about its potential as a key growth channel.

What motivated your decision to partner with the Brahm Group?

I remained self-funded for many years, which was a conscious decision. Traditional VC funding often focuses on short-term targets and metrics, but building a brand is a long-term journey, and establishing true brand equity can take 10-20 years.

When I eventually explored fundraising, I knew I needed a partner who shared this vision and was committed to building a lasting legacy. Brahm immediately aligned with our long-term goals and brought extensive experience across luxury, wellness, boutique hospitality, and premium consumer brands. It took almost eight to nine years to reach this stage, but I’m truly grateful for the alignment and support they offer.

Brahm’s investment has given us the runway to expand our retail presence, both in India and globally. We are actively exploring key markets in the Middle East, the USA, and Europe, with several conversations already underway. 

In addition to retail, we are also focused on strengthening our e-commerce strategy. This includes the upcoming relaunch of our website as well as expanding our presence across leading luxury e-commerce platforms globally, including in India.

What insights have you gained on Indian consumers’ luxury buying behavior?

India is a complex market. Unlike many countries where luxury demand is concentrated in just a few cities, India has multiple consumer cohorts spread across diverse regions. There are many Indias within India.

India’s growing disposable income, increasing digital access, and greater global exposure have created demand far beyond the traditional metro hubs. Emerging cities like Raipur and Nagpur, which often remain under the radar, have accumulated wealth and are eager to express it. 

Moreover, a new generation of Indian consumers, who are globally educated, well-traveled, and digitally savvy is returning with international brand sensibilities and a desire to experience that same level of luxury at home. There has been a visible shift in mindset, with a growing appetite for premium and differentiated offerings.

Then, we have UHNI and HNI consumers as a core segment, as they are highly evolved buyers with access to every global luxury brand. For them, Ahikoza presents an alternative that is underexplored, and inherently cool.

How many SKUs do you currently offer?

We currently have around 20-25 SKUs across 12 core designs with two drops a year and there is a reason for this approach.

If you look at legacy brands like Hermès, known for iconic styles like the Kelly and the Birkin, they do not rely on a vast number of silhouettes. While treatments, colors, and materials may evolve seasonally, the core design DNA remains consistent.

Similarly, we focus on a tightly curated set of designs and explore variation through colourways, fabrications, and detailing. This allows us to maintain a strong and recognisable brand identity while offering freshness and innovation within a defined design framework. We are also keen to explore strategic collaborations, especially with emerging designers who can bring a fresh perspective to our brand. 

What is your approach to sustainability?

I feel the term ‘sustainability’, especially in the context of materials, has become heavily greenwashed. Many products marketed as vegan or sustainable are, in reality, made primarily from plastics, which are far from eco-friendly.

For us, sustainability goes beyond material composition. At Ahikoza, we prioritise mindful waste management, producing only what is necessary without oversourcing. Our bags are crafted for longevity and designed to be used across seasons rather than follow fleeting trends. We are also exploring truly vegan alternatives, but this requires in-depth research to ensure both authenticity and meaningful long-term impact.

What are the three key focus areas for your brand right now?

Our first priority is customer acquisition, with a goal of reaching 100,000 clients over the next three years. We have strategic plans in place to support this growth.

The second focus is our e-commerce strategy, including a complete website revamp. Given that Indian consumers account for approximately 60% of mobile-based digital shopping, it’s important for us to tap into this trend in a focused and effective way.

Lastly, we are looking at retail expansion on a global scale, not just broad reach, but thoughtful placement in the most prestigious boutiques both in India and internationally.

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