Luggage brand Nasher Miles secures Rs 3 crore in funding on Shark Tank India at Rs 200 crore valuation

Nasher Miles is a fresh and vibrant luggage brand that is shaking up the travel industry with its stylish, durable, and affordable range of products.

Founded by Lokesh, Shruti, and Abhishek, this brand stands out with its promise of fashion-forward travel gear, offering over 100 shades and designs inspired by global travel destinations.

From hard-sided bags to backpacks and related travel accessories, Nasher Miles aims to elevate the Indian traveller's style quotient. Their products are available on their website and major e-commerce platforms, showcasing their commitment to quality and variety. With a vision to make stylish luggage accessible to all, Nasher Miles is not just about travelling; it's about travelling in style.

Who are the founders?

The founders of Nasher Miles are Lokesh, Shruti, and Abhishek, a dynamic trio with a shared vision for revolutionizing the luggage industry. Lokesh and Shruti, who are married, along with Abhishek, Lokesh's first cousin, bring a unique blend of familial trust and professional dynamism to the table.

Their journey began with a keen interest in understanding online sales and leveraging platforms like Amazon to distribute products. This entrepreneurial spirit, combined with their collective experience and vision, led to the creation of Nasher Miles.

Their story is one of innovation, collaboration, and a shared dream to change how India travels, making them not just business partners but a family united by a common goal.

Addressing travelers' challenges during the journey

Nasher Miles addresses a common problem faced by travellers: the difficulty in distinguishing their luggage on crowded airport belts due to the uniformity in design and colour of most luggage. This often leads to confusion, delays, and, sometimes, the accidental swapping of bags.

To combat this issue, Nasher Miles introduces a vibrant and diverse range of luggage options. By offering over 100 shades and designs inspired by various travel destinations, Nasher Miles ensures that travellers can easily spot their luggage from a distance, reducing the chances of mix-ups and enhancing the overall travel experience.

Despite their focus on style and design, Nasher Miles does not compromise on the durability and affordability of their products. This ensures that travellers do not have to choose between style and practicality.

Product offerings 

Their portfolio includes hard-sided bags, soft-sided bags, backpacks, and related travel accessories, catering to a wide range of travel needs and preferences. Nasher Miles sells its products through website and major e-commerce platforms like Amazon and Flipkart.

By addressing the need for distinctive, high-quality, and affordable luggage, Nasher Miles aims to elevate the travel experience and fashion quotient of Indian travelers. Their approach not only solves a practical problem but also taps into the desire for personal expression through travel accessories.

Who are its competitors?

Nasher Miles taps into the burgeoning luggage market, leveraging the surge in travel and e-commerce to position itself uniquely with a focus on style, variety, and affordability. The global and Indian luggage markets present vast opportunities due to increasing travel, a growing middle class, and the rising demand for distinctive travel accessories among younger consumers.

However, Nasher Miles faces challenges such as stiff competition from established brands like Samsonite and American Tourister, maintaining a balance between quality and price sensitivity, and adapting to fluctuating travel trends.

The brand distinguishes itself by offering over 100 shades and designs, aiming to capture the attention of travellers seeking both functionality and fashion in their luggage. In a competitive landscape, Nasher Miles's emphasis on unique designs and a wide colour palette aims to carve out a niche in the crowded luggage market, appealing to style-conscious travellers.

Nasher Miles's Pitch on Shark Tank India 

In a strategic move that underscores the burgeoning potential of the Indian startup ecosystem, Nasher Miles, an avant-garde luggage brand, recently made headlines with its remarkable pitch on Shark Tank India. 

The founders, in a bid to accelerate their mission of revolutionizing travel gear with a blend of style, durability, and affordability, sought an investment of Rs 3 crore for 0.75% stake, valuing the company at Rs 400 crore. 

The pitch impressed the sharks ---- Anupam, Aman, Vineeta, Namita, and Rithesh ----- and the sharks tabled a collective offer of Rs 3 crore for a 1.5% equity stake, coupled with a 1% royalty until the initial investment of Rs 3 crore was recouped, effectively valuing the company at Rs 200 crore.