Assembly Business Luggage Shark Tank India Episode Review

Assembly Business Luggage Shark Tank India Episode Review
Assembly Business Luggage Shark Tank India Episode Review
  1. Website Overview:
    • Built on Shopify, excelling in SEO.
    • Despite only 5000 competing keywords, they attract 12000 organic visitors.
  2. Assembly Vision:
    • Aims to provide high-quality, minimalist products based on the principle of “Less is More.”
  3. Assembly Travel Shark Tank India:
    • Founders: Aditya Khanna and Mohit Garg.
    • Aditya Khanna’s background includes founding three companies and angel investing. He holds a Bachelor’s in Commerce and a Master’s from Northwestern University.
    • Mohit Garg, with a degree from Jain University, has prior experience with Novex Luggage India.
  4. About Assembly Travel Luggage:
    • Presents its business pitch on Shark Tank India with the tagline “Re-Imagining minimal yet functional travel luggage and accessories.”
    • Highlights product features like noise-reducing wheels and gliding zippers.
    • Targets functionality, good design, and budget-friendliness.
  5. Assembly Travel Luggage Business Statistics:
    • Business started in 2018, formally introduced as Assembly Business Luggage Brand in July 2021.
    • Sold to over 2 lakh customers.
    • Rating: Samsonite – 9, Nasher Miles – 6, Assembly – 7.
    • Cabin luggage priced at ₹6000.
    • Sales split: 50% marketplace, 40% own website, 10% B2B.
    • Net sales in October 2023: ₹2 crores.
    • Sales growth: ₹55 lakhs (FY 20-21) to ₹11.5 crores (FY 23-24 till Oct).
    • Projected sales for FY 23-24: ₹25-30 crores.
    • Broke even in October 2023.
  6. Assembly Unit Economics:
    • Targeting ₹80 crores annual revenue in 18-24 months.
    • Raised ₹2.75 crores in 2022 with a pre-money valuation of ₹15 crores.
    • Currently raising at a valuation of ₹70 crores.
  7. Assembly Equity Structure:
    • Aditya Khanna – 33.5%, Mohit Garg – 33.5%, Investors – 23%, ESOP – 9%, Others – 1%.
  8. Shark Tank India Episode:
    • Season 3, Episode 15, aired on February 9, 2024.
    • Asked for ₹85 lakhs for 1% equity.
    • No deal concluded.
  9. Investment Guidance from Sharks:
    • Shark Aman Gupta mentioned competition with legacy brands and cited MokoBar’s early start as an advantage.
    • Advised focusing on branding and marketing.
  10. Conclusion:
  • Assembly’s business pitch showcased a unique market approach with a blend of functionality, design, and affordability.
  • Despite facing competition, the founders emphasized their commitment to branding and marketing to stay ahead in the market.
Assembly luggage website and digital data
Assembly luggage website and digital data
AspectDetails
Website Overview– Built on Shopify. – Successful in SEO with 5000 keywords, attracting 12000 organic visitors.
Assembly Vision– Aims for minimalist, high-quality products based on “Less is More.”
Assembly Travel Shark Tank IndiaFounders: Aditya Khanna and Mohit Garg. – Aditya: Founded three companies, angel investor, education from Sriram College of Commerce and Northwestern University. – Mohit: Previous experience with Novex Luggage India, education from Jain University.
About Assembly Travel Luggage– Business pitch on Shark Tank India with the tagline “Re-Imagining minimal yet functional travel luggage and accessories.” – Highlights include noise-reducing wheels, gliding zippers, and a focus on functionality, design, and budget-friendliness.
Assembly Travel Luggage Business Statistics– Started in 2018, formally introduced as Assembly Business Luggage Brand in July 2021. – Sold to over 2 lakh customers. – Rating: Samsonite – 9, Nasher Miles – 6, Assembly – 7. – Cabin luggage priced at ₹6000. – Sales split: 50% marketplace, 40% own website, 10% B2B. – Net sales in October 2023: ₹2 crores. – Sales growth from ₹55 lakhs (FY 20-21) to ₹11.5 crores (FY 23-24 till Oct). – Projected sales for FY 23-24: ₹25-30 crores. – Broke even in October 2023.
Assembly Unit Economics– Targeting ₹80 crores annual revenue in 18-24 months. – Raised ₹2.75 crores in 2022 with a pre-money valuation of ₹15 crores. – Currently raising at a valuation of ₹70 crores.
Assembly Equity Structure– Aditya Khanna – 33.5%, Mohit Garg – 33.5%, Investors – 23%, ESOP – 9%, Others – 1%.
Shark Tank India Episode– Season 3, Episode 15, aired on February 9, 2024. – Asked for ₹85 lakhs for 1% equity. – No deal concluded.
Investment Guidance from Sharks– Shark Aman Gupta mentioned competition with legacy brands and cited MokoBar’s early start as an advantage. – Advised focusing on branding and marketing.
Conclusion– Assembly showcased a unique market approach emphasizing functionality, design, and affordability. – Despite competition, founders committed to branding and marketing for market leadership.

Assembly: Redefining Travel Elegance with Minimalism

Brand Overview: Assembly

1. Business Potential in India:

  • Booming Travel Culture: India’s growing travel culture opens avenues for a dedicated luggage brand.
  • Rise in Business Travel: Increased business travel indicates a demand for sophisticated luggage.

2. Total Addressable Market (TAM):

  • Corporate Travelers: Targeting professionals who value a minimalist aesthetic in their travel accessories.
  • Urban Explorers: Appealing to the urban demographic with a penchant for refined, uncomplicated design.

3. Ideal Target Audience and Demographics:

  • Working Professionals: Individuals engaged in corporate activities and regular business travel.
  • Minimalist Enthusiasts: Attracting consumers who appreciate the simplicity and functionality of minimalist design.

4. Marketing Strategy:

  • Digital Presence: Building a strong online presence through a user-friendly website and e-commerce platforms.
  • Brand Affiliation: Collaborate with lifestyle influencers and business professionals to endorse the brand.

5. Content and Digital Marketing Strategy:

  • Storytelling through Design: Emphasizing the design philosophy through visual storytelling on social media.
  • Educational Content: Create content highlighting the benefits of minimalist travel and the impact on lifestyle.

6. Distribution Strategy:

  • E-commerce Focus: Leveraging online channels for sales, ensuring accessibility to a wide audience.
  • Premium Retail Partnerships: Form strategic partnerships with premium retail outlets for a physical presence.

7. Advantages:

  • Quality Craftsmanship: Emphasis on high-quality materials and craftsmanship for durable products.
  • Timeless Aesthetics: Offering timeless designs that resonate with a broad spectrum of consumers.

8. Challenges:

  • Educating the Market: Minimalist design may require consumer education on its merits.
  • Competitive Landscape: Navigating competition in the luggage industry demands constant innovation.

9. Reasons for Success:

  • Simplicity Sells: The principle of “Less is More” aligns with the current trend of minimalist lifestyle choices.
  • Functional Design: Combining aesthetics with practical features enhances the overall appeal.

10. Mitigation Strategies:

  • Educational Campaigns: Run campaigns highlighting the advantages of minimalist living and travel.
  • Innovation Hub: Invest in R&D for continuous product innovation to stay ahead of the market.

11. Future Business:

  • Global Expansion: Explore international markets with a focus on regions embracing minimalist lifestyles.
  • Sustainable Practices: Adopt eco-friendly materials and sustainable practices to align with global trends.

12. Roadmap to Increase Valuation:

  • Limited Edition Collaborations: Partner with renowned designers for exclusive, limited-edition collections.
  • Tech Integration: Explore smart luggage features to cater to the tech-savvy consumer base.

Conclusion: Assembly, with its commitment to minimalism and quality, stands as a promising player in the Indian luggage market. The brand’s dedication to simplicity, combined with strategic marketing initiatives and a focus on continuous innovation, positions it for success in a competitive landscape. As travelers increasingly seek elegance in simplicity, Assembly emerges as a brand that redefines travel sophistication through the art of “Less is More.”

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