Homegrown handbag brand Miraggio is doubling down on its omnichannel strategy with a fresh infusion of $6.5 million. The company plans to open 15 to 20 flagship stores over the next two years, starting in tier-1 cities and expanding into tier-2 markets. The funds will also be used to ramp up warehousing, strengthen quick commerce, and invest in tech and leadership.
Founded in 2019, Miraggio has built a strong following across India, from metro cities to tier-III towns. Its core audience is women aged 24 to 35, with about half of its orders coming from tier-1 locations. The company sells 50,000–60,000 handbags a month and has crossed one million units in lifetime sales.
Currently, 30% of its revenue comes from its own website, with the rest through marketplaces. But with offline expansion, the company hopes to grow direct sales to over 60% in the next 2–3 years.
Some of its best-selling products include the Denice tote, Ace tote, and quirky “ice cream” micro bags like the pistachio and vanilla designs, with prices ranging from ₹1,000 to ₹6,000.
Miraggio was the first Indian brand to launch handbags on a monthly basis, combining fast-fashion principles with functionality. “We became the first brand to launch bags every month in India,” said Mohit Jain, Founder & CEO. “We merged both style and functionality.”
Jain started the brand after an earlier e-commerce venture didn’t work out. He spotted a gap in India’s handbag market for aspirational yet affordable products. “I actually wanted to create a more long-term, sustainable branded business,” he said.
Today, the company operates over 500 SKUs and plans to nearly double that in FY26. While it currently sources from China, Miraggio is expanding its supply chain to Vietnam and Myanmar to diversify production.
As India’s handbag market heads toward the billion-dollar mark by 2030, brands like Miraggio are showing how digital-native, design-led businesses can compete with global names on home turf.
Watch accompanying video for more.
This post was originally published on this site be sure to check out more of their content.
