Nasher Miles

Abhishek Daga, Lokesh Daga and Shruti Kedia Daga founded Nasher Miles. They are from Mumbai. Abhishek and Lokesh are first cousins, and Shruti is Lokesh's wife. They were distributors of VIP bags in the past. The Daga family trio brings the most commercially complementary luggage founding structure in Season 3: Lokesh (CEO) handles operations and strategy with his SP Jain management training; Abhishek (Chairman) brings Arizona State University engineering and prior startup founding experience; and Shruti (Marketing Head) combines Mumbai University business studies, SP Jain MBA, and prior experience at Edelweiss Capital and ICICI Bank into a marketing expertise that built Nasher Miles' digital-first brand identity.

Nasher Miles is a New Age luggage brand that promises style, variety, and fashion. They have products available in over 100 shades. Their USP is their styles, as their colorful bags can be seen from miles away. Their collections are inspired by popular travel destinations like Paris, Istanbul, etc. Nasher Miles is India's most colour-diverse premium luggage brand, offering over 100 unique destination-inspired colour shades across hard-side trolley bags, soft-side luggage, backpacks, and travel accessories. The brand's founding insight: when every bag on the airport belt looks the same, the brand that makes bags identifiable from miles away wins the consumer's loyalty and repeat purchase.

Amount Asked: ₹3 crore Equity Offered: 0.75% Implied Pre-Money Valuation: ₹400 crore

The Daga trio walked into Season 3 Episode 15 as the second luggage brand in Shark Tank India's first-ever brand match-off, pitching immediately after Assembly. The contrast was instantly visible: Assembly's minimalist aesthetics versus Nasher Miles' explosion of 100 plus colours. The product display filled the stage with every shade imaginable, from electric blue to sunset orange to deep burgundy. Nasher Miles launched in August 2017. They have always been a profitable company and are completely bootstrapped. In their first financial year of FY17-18, they made revenue of ₹2.18 crores. This was followed by ₹15.75 crores in FY19, ₹22.73 crores in FY20, ₹12.5 crores in FY21, and ₹23.7 crores in FY22. They closed the last financial year FY22-23 at revenue of ₹52.9 crores.

Aman Gupta made a solo competing offer of ₹1 crore for 1% equity plus ₹2 crore debt at 10% interest for 2 years. Anupam Mittal questioned the ₹400 crore valuation and jumped on a bag to test quality. He joined Namita, Vineeta, and Ritesh to make the four-Shark coalition offer of ₹3 crore for 1% equity plus 1% royalty until ₹3 crore recouped. Namita Thapar liked the products and joined the four-Shark coalition. Vineeta Singh asked about their strategy for offline expansion and joined the four-Shark coalition, seeing the natural alignment with young female consumers. Ritesh Agarwal liked the business model and operational efficiency. He joined the four-Shark coalition, bringing OYO's hospitality and travel network synergy.

Two competing structures emerged. Aman's solo offer: ₹1 crore for 1% equity plus ₹2 crore debt at 10% for 2 years. Four-Shark coalition (Anupam, Namita, Vineeta, Ritesh): ₹3 crore for 1% equity plus 1% royalty until ₹3 crore recouped (₹300 crore valuation). The founders wanted all five Sharks together. After extended negotiation, the final deal consolidated: all five Sharks investing ₹3 crore for 1.5% equity plus 1% royalty until ₹3 crore is recouped, at ₹200 crore valuation. The founders accepted despite the valuation being halved from their ₹400 crore ask because the all-five-Shark endorsement was the most powerful possible brand validation for a luggage company.

Lokesh Daga, Abhishek Daga, and Shruti Kedia Daga accepted the all-five-Shark deal of ₹3 crore for 1.5% equity plus 1% royalty until ₹3 crore is recouped, valuing Nasher Miles at ₹200 crore. Five Sharks investing simultaneously in one luggage brand was Season 3 Episode 15's most commercially decisive match-off verdict: every single investor chose Nasher Miles over Assembly.

After some delays, it was confirmed that their deal with the sharks successfully went through. Namita shared on LinkedIn that the brand closed their FY23-24 with revenue of ₹85 crores, and 100% of that came from online. Nasher Miles is projecting a revenue of ₹200 crores in FY24-25 with a break-even bottom line. Nasher Miles continues its explosive post-Shark Tank trajectory. The FY23-24 revenue of ₹85 crore (up from ₹52.9 crore in FY23) and the ₹200 crore FY24-25 projection demonstrate that the all-Shark deal accelerated an already fast-growing brand into hypergrowth mode. The 100% online revenue composition is being diversified through planned EBOs (Exclusive Brand Outlets) in high streets and mall kiosks across India.