Founded in 2019, Miraggio has garnered a robust following across India, spanning metro areas to tier-III towns. Its primary audience consists of women aged 24 to 35, with approximately half of its orders originating from tier-1 locations. The company sells between 50,000 and 60,000 handbags monthly and has surpassed one million units in lifetime sales.
Presently, 30% of its revenue is generated through its own website, while the remaining comes from various marketplaces. However, with the planned offline expansion, the company aims to boost direct sales to over 60% in the next 2 to 3 years.
Among its top-selling items are the Denice tote, Ace tote, and quirky “ice cream” micro bags featuring pistachio and vanilla designs, priced between ₹1,000 and ₹6,000.
Miraggio was the pioneer Indian brand to consistently launch handbags on a monthly basis, blending fast-fashion principles with practicality. “We became the first brand to introduce bags every month in India,” stated Mohit Jain, Founder & CEO. “We fused style with functionality.”
Jain established the brand after an earlier e-commerce endeavor didn’t succeed. He identified a gap in India’s handbag sector for aspirational yet reasonably priced products. “I aimed to build a more long-term, sustainable branded business,” he remarked.
Currently, the company boasts over 500 SKUs and aims to nearly double that by FY26. While it presently sources from China, Miraggio is in the process of extending its supply chain to Vietnam and Myanmar to diversify production.
As India’s handbag market approaches the billion-dollar milestone by 2030, brands like Miraggio exemplify how digital-native, design-driven businesses can effectively compete with global entities on home ground.
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