Direct-to-consumer handbag brand Mirragio is doubling down on offline retail as it looks to scale beyond its digital-first roots, with plans to open more than 10 stores this year and build what it calls a “premium global retail experience” for Indian consumers.
The company, which crossed over ₹150 crore in revenue within five years without any physical presence, recently launched its first standalone retail store as part of a larger strategy to deepen consumer engagement and drive higher growth through experiential retail.
Founder and CEO Mohit Jain said handbags remain a highly tactile category where customers want to physically experience products before purchasing. “A handbag is a product of touch and feel. Consumers want to carry it, experience the utility, and understand how it fits into their everyday life,” Jain said.
Miraggio’s offline expansion comes at a time when several digital-first fashion and lifestyle brands are increasing investments in brick-and-mortar stores to improve brand visibility, customer retention and profitability. The company said it expects each outlet to generate average monthly sales of more than ₹20 lakh, with the overall retail business projected to contribute ₹1.5-2 crore in monthly revenue by the end of the year.
The brand is focusing on company-owned and company-operated stores, aiming to retain tight control over customer experience, visual merchandising and store aesthetics instead of pursuing a franchise-led expansion model.
“We want to build a premium brand experience out of India,” Jain said. “From store design to fragrances, staff uniforms and visual merchandising, we are going down to the last detail to perfect the consumer experience.”
Miraggio said its upcoming stores will feature exclusive product lines designed by teams across Asian fashion markets, with a sharper focus on differentiated retail experiences rather than celebrity-led collaborations.
The company also indicated plans to gradually diversify sourcing and manufacturing amid global supply chain uncertainties. Jain said the brand is evaluating partnerships with factories in India as part of a broader “three-country strategy” aimed at reducing dependence on overseas production over time.
Despite the aggressive expansion push, Miraggio said it remains close to breakeven at the company level and is prioritising efficient growth over rapid cash burn. The company had raised ₹55 crore last year in a funding round led by RPSG Capital Ventures and Client Associates.
“Our focus right now is purely growth,” Jain said, adding that the company has sufficient capital to support expansion over the next few years.