Miraggio Secures Funding to Expand Fashion Handbags and Accessories

Miraggio, a fashion handbag and accessories brand based in Delhi, has successfully raised $6.5 million (Rs 55 crore) in a funding round led by RPSG Capital Ventures and Client Associates Alternate Fund. Prath Ventures also contributed to this funding effort.

Previously, Miraggio secured $1.2 million in 2023, bringing its total funding to $7.7 million.

The brand plans to utilise these funds for various initiatives, including retail expansion, brand development, technology enhancements, and team growth.

Retail Expansion Plans

Miraggio intends to launch 15 to 20 offline stores within the next two years. Additionally, the company aims to introduce over 500 new products within 18 months. This new product line will feature a diverse range, including laptop bags, backpacks, mini bags, clutches, and small leather items.

About Miraggio

Established in 2019 by Mohit Jain, Miraggio focuses on designing and selling handbags and accessories specifically tailored for women consumers in India. The brand boasts a wide variety of products, including tote bags, shoulder bags, and crossbody bags, predominantly offered through online platforms and its own website.

Sales and Market Reach

The company reports having fulfilled over one million orders to date. Around 25% of its sales stem from its official website, while the remaining sales are generated through online marketplaces.

Miraggio targets women aged 18 to 35 across tier I, II, and III cities, aiming to capture a broad audience within these demographics.