- Website Overview:
- Built on Shopify, excelling in SEO.
- Despite only 5000 competing keywords, they attract 12000 organic visitors.
- Assembly Vision:
- Aims to provide high-quality, minimalist products based on the principle of “Less is More.”
- 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.
- 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.
- 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.
- 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’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.
| Aspect | Details |
|---|---|
| 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 India | – Founders: 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.”
