CONNECT WITH US
eCommerce

eCommerce

Miraggio targets Rs 500 crore by FY30, plans 100+ stores

ET Retail – Ecommerce logo

Published on

Add as a preferred source on Google
Miraggio targets Rs 500 crore by FY30, plans 100+ stores

With plans to launch over one hundred outlets across India in the next three to four years, Miraggio envisions becoming the foremost handbag brand by FY30. This strategic move will prioritize retail and direct-to-consumer approaches, significantly boosting domestic production in the next two years. The company is also dedicated to investing in technological innovations and refining its supply chain processes.

Miraggio is stepping up its offline expansion , targeting 100+ stores across India in the next 3-4 years as the handbag and accessories brand looks to make retail and DTC the larger part of its business. “We want to become India’s largest brand. That is the next target for us,” said Mohit Jain, founder & CEO, Miraggio. The brand, which closed FY25 with Rs 120 crore net sales, expects to reach nearly Rs 200 crore this fiscal. By FY30, it is targeting a Rs 500 crore business. Retail is central to that plan. After opening its first store in Chennai and second in Mumbai, Miraggio is set to open Pune next, followed by three stores in October across Jaipur, Vizag and Bengaluru. Advt

“This fiscal year we are going to open minimum 10-plus stores. In the next three to four years, we are looking at minimum 100-plus stores across pan India,” he stated. The stores will span malls and high streets across metros, tier-I and tier-II markets. More than 50 per cent of Miraggio’s business currently comes from tier-II and beyond, making smaller cities an important part of its expansion strategy.


Source link
Related Topics:eCommerce

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.