Nasher Miles is a new-age luggage brand that promises style, variety, and fashion with every product.
More About Nasher Miles
Nasher Miles has more than 100+ shades and designs along with a range of products for all types of travellers. Each of their product is inspired by different travel destinations including Vegas, Istanbul, Paris, etc.
Here are the major categories of products that they sell:
- Hardside bags
- Softside bags
- Backpacks
- Related Travel Accessories
Founders of Nasher Miles
Abhishek Daga, Lokesh Daga, and Shruti Kedia Daga are the co-founders of Nasher Miles, a luggage bag brand.
Nasher Miles Shark Tank Pitch and Updates
Abhishek, Lokesh, and Shruti appeared on Shark Tank India season 3 and shared details about their cool and vibrant luggage brand. They were featured in a match-off episode where they had to fight with another brand Assembly in the same business.
The founders started their pitch by sharing the difficulties faced by people while looking for unique and functional luggage bags. Also, how difficult it becomes when we try to find our bag on the luggage belt because most bags look the same.
To help people get unique and vibrant luggage bags for them, the founders started Nasher Miles. They started the business as a retailer on marketplaces for various brands and then soon got the inspiration to start their private label brand.
As per the founders, their products are available through their website and all the major e-commerce marketplaces.
After that initial pitch, the founders demanded INR 3 Crores for 0.75% equity at a valuation of INR 400 crores.
After that, the Sharks started asking various questions about their brand:
- At first, the sharks cracked a few jokes as they were awestruck by the valuations that the founders asked for.
- Then, Ritesh Agarwal asked about the background of all the founders and how they got into this business.
- Aman Gupta compared them with the Assembly Luggage brand and asked them what makes them different from them. Also, he asked them the secret behind their sales even as a bootstrapped company.
- Anupam Mittal asked them about their pricing strategy and price for their products in the mass market.
- Namita Thapar asked them about their differentiation and how they position themselves in the market.
As it was a match-off between the two brands, the Sharks had to hold their investment offers till they reviewed both brands. After a short period, the founders received multiple offers from all the Sharks, and in the end, they went with an all five-sharks deal.
| Company Name | Nasher Miles |
| Founders | Abhishek Daga, Lokesh Daga, and Shruti Kedia Daga |
| Headquarters | Mumbai |
| Founded Year | 2017 |
| Business | Luggage Bags |
| Profitability | Yes |
| Shark Tank Episode | Season 3 – Episode 15 |
| Asked For | INR 3 Crores for 0.75% equity |
| Deal | INR 3 Crore for 1.5% Equity With 1% Royalty Until INR 3 Crores Is Recouped. |
| Sharks Invested | Aman Gupta, Anupam Mittal, Namita Thapar, Vineeta Singh, and Ritesh Agarwal |
| Valuation Given | INR 200 Crores |
| Website | Click Here |
Nasher Miles was able to secure a deal of INR 3 Crore for 1.5% Equity With 1% Royalty Until INR 3 Crores Is Recouped at a valuation of 200 Crores from Aman Gupta, Anupam Mittal, Namita Thapar, Vineeta Singh, and Ritesh Agarwal.
Frequently Asked Questions About Nasher Miles
After their appearance on Shark Tank India Season 3, people tried to find more information about the Nasher Miles. So here are some of the frequently asked questions about them.
1. Who Is The Founder of Nasher Miles?
Abhishek Daga, Lokesh Daga, and Shruti Kedia Daga are the co-founders of Nasher Miles, a luggage bag brand.
2. Is Nasher Miles From Shark Tank India profitable?
Yes, Nasher Miles is a profitable and bootstrapped business right from the start. They had 12% EBITDA level profitability in the Financial year FY22-23.
3. What happened to the Nasher Miles after the Shark Tank?
The founders were able to secure an amazing all-sharks deal from Shark Tank India. They now will be focusing on scaling their business in the offline market.
4. What Is The Valuation of Nasher Miles?
Nasher Miles was able to secure a deal on Shark Tank India at a valuation of INR 200 crores.
