Miraggio, the company specializing in luxury handbags, has successfully secured Rs 10 crore in a pre-series A funding round.
This substantial funding marks a pivotal moment for the brand, propelling its aspirations for growth and expansion.
Founded by Mohit Jain, Miraggio works with a vision of redefining fashion norms, aiming to carve a distinct identity in the market of premium handbags. The brand envisions a space where women can express their individuality, drawing inspiration from the contemporary, liberated spirit of today’s women.
Since its establishment in 2020, Miraggio has reported an impressive growth rate of 140% year-over-year. With a customer base of approximately 2 million individuals, the company looks forward to achieving an ambitious annual recurring revenue (ARR) milestone of Rs 100 crore by 2024.
Looking ahead, Miraggio’s strategic roadmap includes diversifying its product line to offer not just handbags but also wallets and backpacks. By broadening its offerings, the company seeks to further solidify its position in the fashion accessories market and cater to the evolving preferences of its growing consumer base.
The infusion of this fresh capital is expected to fuel Miraggio’s work toward innovation and expansion, enabling the brand to realize its vision while maintaining a commitment to quality and style.