Miraggio Bags ₹55 Crore Funding to Fuel Omnichannel Growth in Non-Metro India

Miraggio, a fashion handbag and accessories brand, has raised ₹55 crore ($6.5 million) in a Series A investment led by RPSG Capital Ventures and Client Associates Alternate Fund, with Prath Ventures also joining the round. The new capital will fuel the company's aggressive omnichannel plan, targeting especially India's rapidly growing Tier 2 and Tier 3 cities.

 

The money will be utilized to launch 15–20 specialty brand stores in two years, make forays into multi-brand stores such as Shoppers Stop and Lifestyle, and make Miraggio more robust on the digital and supply chain fronts. The brand also aims to launch augmented reality features and automated chatbots called stylist chatbots to make online shopping more seamless.

 

Miraggio will roll out more than 500 new products in the next 18 months, increasing its portfolio to laptop bags, backpacks, mini bags, clutches, and small leather goods. The company plans to fill the gap in the ₹2,000–₹6,000 affordable luxury segment, which is still untapped in India.

 

Launched in 2019, Miraggio clocked over ₹110 crore in gross merchandise value at FY25 and is looking to cross more than ₹200 crore next year, with a high percentage of sales already originating from outside metro cities.

 

CEO Mohit Jain underscored that the strategic injection will drive product development, retail expansion, and supply chain resilience, putting Miraggio in a position to become a top-of-the-line premium handbag brand among aspirational consumers outside India's metros.

 

Source: Economic Times, The Hindu Business Line, LatestLY, Rediff Business