A baggage company called Nasher Miles made waves on Season 3 of Shark Tank India by landing a highly sought-after all-shark deal from the program's well-known investors. The brand promised hassle-free travel and unique design. This piece delves into their exciting sales presentation, special qualities, and the funding that helped them advance.
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Nasher Miles Pitch in Shark Tank India
Style, diversity, and fashion are the hallmarks of the New Age baggage company Nasher Miles. More than 100 hues are offered for their goods. Given that their vibrant bags can be seen for miles, their unique selling point is their style. Moreover, well-known tourist spots like Paris, Istanbul, and other places serve as inspiration for their designs. The creators said that in addition to being attractive, their items are also reasonably priced and long-lasting. They may be purchased from their own website as well as any other well-known internet retailers. With a business valuation of ₹400 Crores, the founders requested an investment of ₹3 Crores for 0.75% of the firm.
Nasher Miles Company Valuation And Investment
Sharks scrutinized the founders as they sought INR 3 crores for 0.75% ownership at a valuation of INR 400 crores. Inquiries focused on the histories of the founders, how they set themselves apart from rivals, how they set their prices, and where they saw the market. All of the sharks made proposals to Nasher Miles in spite of his initial doubts. In the end, they agreed to a contract of INR 200 crores, which was for 1.5% equity with 1% royalty with the condition that INR 3 crores be recovered.
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The All-Shark Deal
The sharks were drawn to the creators' enthusiasm, remarkable sales results, and distinctive features despite some reservations over value and competitiveness. Following some amicable haggling and negotiating, each of the five sharks made a combined offer to invest ₹3 crore in exchange for a 25% stock share. For Nasher Miles, this rare all-shark agreement was a turning point that brought them not only into the public eye but also secured money and invaluable mentoring.
Shark Tank India Impact On Nasher Miles
Sales and brand recognition for Nasher Miles have increased significantly after their Shark Tank India episode. They have been able to reach a larger audience, enhance their marketing approach, and increase the scope of their product range thanks to the investment. They have solidified their position as the top luggage brand in the Indian market by continuing to place a high priority on innovation and client happiness.
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