Nasher Miles Shark Tank India Episode Review
- The website, Nasher Miles, is built on the Shopify Ecommerce Platform.
- It competes on over 12,000 keywords, attracting 60,000 monthly visitors.
- The site employs excellent branding and SEO practices.
Nasher Miles Vision:
- Nasher Miles specializes in bags with a focus on diversity in colors, offering the most unique luggage products in the market.
Nasher Miles Shark Tank India:
- The founders are Lokesh Daga, Abhishek Daga, and Shruti Kedia Daga.
- Lokesh Daga has a Bachelor’s in Computer Science and a Master’s from SP Jain Institute of Management & Research.
- Abhishek Daga holds a Bachelor’s in Engineering and a Master’s in Science from Arizona State University.
- Shruti Kedia Daga has a BMS degree from Mumbai University and a Digital Marketing Master’s from SP Jain Institute.
Nasher Miles – New Age Luggage Brand:
- Nasher Miles is a modern luggage brand, offering hard side bags, soft side bags, and backpacks in over 100 unique colors.
Nasher Miles Luggage Business Statistics:
- Established in 2017.
- Products range from ₹2700 to ₹3200.
- Revenue: ₹52.9 crores with an EBITDA of -12.4%.
- Sales projection for FY 23-24: ₹100 crores.
Nasher Miles Sales Split:
- Marketplace: 90%
- Own Website: 10%
Nasher Miles Equity Structure:
- Abhishek Daga: 50%
- Lokesh Daga: 45%
- Shruti Kedia Daga: 5%
Shark Tank India Deal:
- Investment: ₹3 crores for 1.5% equity + 1% royalty until ₹3 crores recouped.
- Valuation: ₹200 crores.
- All Shark Deal.
Nasher Miles Shark Tank India Episode Details:
- Season 3, Episode 15, aired on 9th February 2024.
Nasher Miles Founder’s Ask and Deal in Shark Tank India:
- Asked for ₹3 crores for 0.75% equity.
- Secured a deal for ₹3 crores for 1.5% equity + 1% royalty.
Nasher Miles Investors in Shark Tank India:
- All Sharks: Anupam, Vineeta, Ritesh, Aman, Namita.
Nasher Miles Shark Tank India Episode Conclusion:
- The Nasher Miles Shark Tank pitch showcased an interesting business model with plans for offline expansion and unique marketing strategies.
Nasher Miles Shark Tank India Website Overview:
| Aspect | Details |
|---|---|
| Platform | Shopify Ecommerce Platform |
| Keywords Competition | Over 12,000 |
| Monthly Visitors | 60,000 |
| Marketing Practices | Excellent Branding, SEO |
Nasher Miles Vision:
| Highlight | Details |
|---|---|
| Specialization | Bags with a focus on diverse colors |
Nasher Miles Shark Tank India:
| Founder | Education and Experience |
|---|---|
| Lokesh Daga | Bachelor’s in Computer Science, Master’s from SP Jain Institute |
| Abhishek Daga | Bachelor’s in Engineering, Master’s in Science from Arizona State Uni |
| Shruti Kedia Daga | BMS from Mumbai University, Digital Marketing Master’s from SP Jain |
Nasher Miles Luggage Business Statistics:
| Year | Sales (in crores) | EBITDA | Revenue Generated (till FY 22-23) | Projected Revenue (FY 23-24) |
|---|---|---|---|---|
| FY 17-18 | ₹2.18 | – | – | – |
| FY 18-19 | ₹15.75 | – | – | – |
| FY 19-20 | ₹22.73 | – | – | – |
| FY 20-21 | ₹12.5 | – | – | – |
| FY 21-22 | ₹23.7 | -12.4% | ₹52.9 crores | ₹57 crores (till Oct) |
| FY 22-23 | ₹52.9 | -12.4% | – | ₹100 crores (Projected) |
Nasher Miles Sales Split:
| Sales Channel | Percentage |
|---|---|
| Marketplace | 90% |
| Own Website | 10% |
Nasher Miles Equity Structure:
| Founder | Equity Share |
|---|---|
| Abhishek Daga | 50% |
| Lokesh Daga | 45% |
| Shruti Kedia Daga | 5% |
Shark Tank India Deal:
| Investment Details | Value |
|---|---|
| Investment Amount | ₹3 crores |
| Equity Offered | 1.5% |
| Royalty Until ₹3 crores Recouped | 1% |
| Valuation | ₹200 crores |
Episode Details:
| Shark Tank India Season & Episode | 3, 15 |
|---|---|
| Air Date | 9th February 2024 |
| Founders | Lokesh Daga, Shruti Kedia Daga, Abhishek Daga |
Investors in Shark Tank India:
| Shark Investor |
|---|
| Anupam Mittal |
| Vineeta Singh |
| Ritesh Agrawal |
| Aman Gupta |
| Namita Thappar |
Conclusion:
- The Nasher Miles Shark Tank pitch demonstrated a compelling business model, including unique marketing strategies and plans for offline expansion.
Nasher Miles: Elevating Travel Experience Through Stylish Luggage
Brand Overview: Nasher Miles
1. Business Potential in India:
- Growing Travel Industry: India’s travel and tourism sector is projected to grow at a CAGR of 8.2% from 2019 to 2028 (Statista).
- Increasing Disposable Income: Rise in disposable income contributes to increased spending on travel and related accessories.
2. Total Addressable Market (TAM):
- Expansive TAM: Targeting a broad audience interested in travel, including frequent flyers, business travelers, and vacationers.
- Demographic Focus: Primarily focusing on urban professionals aged 25 to 45.
3. Ideal Target Audience and Demographics:
- Professionals and Globetrotters: Individuals who travel frequently for work or leisure.
- Urban Millennials: Targeting the tech-savvy urban millennials seeking a blend of style and functionality.
4. Marketing Strategy:
- Omni-Channel Presence: Utilize both online and offline channels for maximum visibility.
- Brand Ambassadors: Collaborate with travel influencers and celebrities as brand ambassadors.
5. Content and Digital Marketing Strategy:
- Visual Storytelling: Engage the audience with visually appealing content showcasing the durability and style of Nasher Miles products.
- Social Media Campaigns: Run targeted campaigns on platforms like Instagram and Facebook, featuring user-generated content.
6. Distribution Strategy:
- E-commerce Dominance: Leverage e-commerce platforms for widespread availability.
- Retail Partnerships: Forge partnerships with retail chains and travel-focused stores.
7. Advantages:
- Wide Product Range: Offering a diverse range of hard side bags, soft side bags, and backpacks provides a competitive edge.
- Color Variety: Over 100 unique colors cater to diverse style preferences.
8. Challenges:
- Competition: The luggage market is competitive; hence, standing out requires consistent innovation.
- Economic Factors: Economic downturns may impact discretionary spending on travel accessories.
9. Reasons for Success:
- Quality Assurance: Nasher Miles commits to high-quality materials and craftsmanship, ensuring customer satisfaction.
- Fashion Meets Function: The fusion of style and functionality appeals to the modern traveler.
10. Mitigation Strategies:
- Continuous Innovation: Regularly introduce new designs and features to stay ahead of market trends.
- Customer Feedback Loop: Establish a robust feedback system to address customer concerns promptly.
11. Future Business:
- Global Expansion: Explore opportunities for international market penetration.
- Tech Integration: Introduce smart luggage features, such as built-in chargers and location tracking.
12. Roadmap to Increase Valuation:
- Strategic Collaborations: Collaborate with fashion designers or influencers for limited edition collections.
- Sustainability Initiatives: Integrate sustainable practices in manufacturing to align with eco-conscious consumer trends.
- Customization Options: Introduce personalized luggage options for a premium segment.
Conclusion: Nasher Miles, with its commitment to style, durability, and innovation, is poised for significant growth in the dynamic travel accessories market. The brand’s ability to navigate challenges, coupled with strategic initiatives outlined in the roadmap, positions it for increased valuation and sustained success. As the travel industry continues to evolve, Nasher Miles stands as a beacon for those seeking a seamless blend of fashion and functionality in their luggage choices.
Nasher Miles Shark Tank India Episode Review