Founders & their story

• Lokesh Daga
• Abhishek Daga
• Shruti Kedia Daga

Nasher Miles epitomizes the epitome of contemporary luggage brands, seamlessly blending style, versatility, and sophistication. Drawing inspiration from global travel destinations, each collection is a testament to exquisite craftsmanship and unparalleled design. Positioned in the mid-premium market segment, Nasher Miles is committed to being a pioneer in the online-first approach, with 90% presence across various marketplaces and 10% through its own website. With a keen focus on the discerning 25-34-year-old demographic, Nasher Miles allocates 14% of its budget towards strategic marketing initiatives. Leveraging innovative strategies, the brand has meticulously curated a database of customer pin codes, gleaned from 18 months of online orders, ensuring a personalized shopping experience.

Looking towards the future, Nasher Miles is poised for expansive growth, with plans to establish 10 exclusive brand outlets nationwide, catering to diverse consumer preferences. Additionally, strategic placement in high-street locations and mall kiosks further solidifies the brand’s omnipresence. The brand’s commitment to customer satisfaction is exemplified through a remarkable 12% repeat purchase rate and a generous lifetime warranty. Utilizing high-quality polypropylene materials, Nasher Miles pledges to replace any product that develops cracks, underscoring its dedication to durability and reliability.

Despite its bootstrap origins in 2017, Nasher Miles has consistently delivered profitability, a testament to its resilient business model. In pursuit of offline expansion, the brand aims to raise 70-80 crores in investment, propelling its journey towards becoming a household name in the realm of luxury luggage.

About the company

Derived from the Persian term “Nasher Kardan,” meaning to publish, the name Nasher signifies a commitment to sharing. It embodies a promise to unveil authentic travel experiences, marking each milestone along the traveller’s journey. The term “Miles” symbolizes the traveller’s progress and the richness of their experiences. Together, “Nasher Miles” represents a dedication to bringing these experiences to the world, driven by innovation and excellence.

They are attentive listeners, deeply understanding your unique travel requirements. Keen observers of industry trends, styles, and nuances, they swiftly adapt to change, ensuring their offerings remain relevant and exceptional. As imaginative creators, they go beyond fulfilling desires, crafting experiences that inspire and fulfil aspirations. They curate tailor-made journeys, personalized to suit individual preferences and desires, ensuring every traveller embarks on a memorable adventure.

Nasher Miles is a modern, digital-first brand committed to simplifying and enhancing the travel experience. Recognizing the opportunity to innovate in the mundane, they strive to break conventions and set new standards of excellence. Every creation from Nasher Miles is meticulously designed and engineered to distinguish travellers from the crowd, ensuring they stand out and make their mark on every journey.

Revenue

The pre-tax profit margin for the fiscal years 2022-23 and 2023-24 until November was 25%. In FY 22-23, the annual sales amounted to 1.22 crores, while in FY 23-24, sales until November totalled 1.06 crores. However, projected sales for FY 23-24 are expected to reach 2 crores, maintaining the pre-tax profit margin at 25%. Prices are typically established at 4 to 5 times the manufacturing cost. The revenue for FY 22-23 stood at 52.9 crores, and by October of FY 23-24, sales amounted to 57 crores, with projected sales for the full fiscal year anticipated to reach 100 crores. The net margin for FY 23-24 is expected to remain at 25%. Moreover, the profit after tax for FY 22-23 was around 6%.

Founders’ Ask 

3 crores for 0.75% at a valuation of 400 crores.

Offers:

Anupam, Namita, Ritesh and Vineeta’s offer: 3 crores for 1% equity at the valuation of Rs. 300 crores and 1% royalty until 3 crores is recouped.

Aman’s offer: 1 crore for 1% equity at the valuation of Rs. 100 crores and 2 crores debt at 10% interest for 2 years.

Anupam, Namita, Ritesh, Vineeta and Aman’s offer: 3 crores for 1.5% equity at the valuation of Rs. 200 crores and 1% royalty until 3 crores is recouped.

Founder’s Counteroffer:

Offer 1: 3 crores for 1.2% equity at the valuation of Rs. 250 crores and 1% royalty until 3 crores is recouped.

Offer 2: 3 crores for 1.33% equity at the valuation of Rs. 225 crores and 1% royalty until 3 crores is recouped.

Final Deal

3 crores for 1.5% equity at the valuation of Rs. 200 crores and 1% royalty until 3 crores is recouped. (All 5 sharks)