Miraggio

Miraggio is a fast-growing, new-age Indian fashion brand specializing in premium women’s handbags and accessories has quickly established itself as a trendsetter in the affordable luxury segment. The company’s core markets include India’s metro cities as well as rapidly expanding Tier II and III cities, with plans for international expansion and omnichannel retail presence.

Products & Services 

• Handbags: Wide range of premium women’s handbags including totes, satchels, crossbody and shoulder bags, crafted from high-quality vegan leather for style and durability.

• Tote Bags: Spacious, versatile tote bags designed for everyday utility and sophistication, featuring sturdy handles and multiple compartments.

• Crossbody & Sling Bags: Trendy, hands-free bags for on-the-go lifestyles, balancing style, convenience and secure storage.

• Shoulder Bags: Fashion-forward shoulder bags with luxe hardware, adjustable straps and elegant textures for daily wear or special occasions.

• Mini & Small Bags: Compact bags for essentials, offering both practicality and a chic accent to any outfit.

• Signature Packaging: Every bag comes with a reusable dust bag for long-term protection and a premium unboxing experience.

• Attention to Detail: Features like secure closures organized compartments and comfortable straps are standard across all designs for enhanced user experience

Business Model & Revenue Streams

Miraggio operates a direct-to-consumer (D2C) and omnichannel retail model, with revenue streams including:

• Direct Sales via Website: About 25–30% of revenue comes from Miraggio’s own e-commerce platform, which features immersive shopping experiences such as shoppable videos and influencer content.

• Online Marketplaces: The majority (70–75%) of sales are driven by leading e-commerce platforms like Myntra, Ajio and Tata CLiQ, where Miraggio consistently ranks among the top brands.

• Offline Retail Expansion: With new funding, Miraggio is opening branded stores in malls, airports and multi-brand outlets to enhance its omnichannel presence and capture more premium customers.

• Product Diversification: Revenue from an expanding portfolio, including backpacks, wallets, clutches, mini bags, laptop bags and other small leather goods.

• Content-Commerce Integration: Innovative use of shoppable videos and interactive content on the website, which now accounts for 10% of total revenue and drives higher engagement and conversion rates.

• Strategic Partnerships & Collaborations: Collaborations with influencers, designers and technology partners to launch exclusive collections and marketing campaigns.

Customer Segmentation

• B2C: Primary customers are women aged 20–35 in urban and aspirational Tier II/III cities, seeking stylish, premium handbags at affordable prices.

• B2B: Partnerships with retail chains, multi-brand outlets and airport stores for broader offline distribution.

Growth Strategy

• Omnichannel Expansion: Aggressively opening offline stores and airport kiosks while strengthening online and marketplace presence.

• Product Line Diversification: Introducing new categories like backpacks, wallets and small leather goods to increase average order value and customer retention.

• Tier II/III Market Penetration: Focusing on high-growth, aspirational markets beyond metros, which already contribute over 50% of revenue.

• Technology Integration: Investing in AR, shoppable videos and automated customer support to enhance the digital shopping experience.

• Sustainability Leadership: Committing to vegan materials and eco-friendly practices to differentiate from traditional brands.