‘Nasher Miles’ ने रखी 3 Crores की Ask | Shark Tank India S3

National Miles - Elevating Fashion in Luggage

Founders Lokesh, Shruti, and Abhishek present National Miles, a new age luggage brand.
Offers stylish and colorful luggage options with over 100 shades and unique designs.
Inspired by favorite travel destinations, such as the soft romantic shades of Paris Istanbul.
Provides a range of products including hard side bags, soft side bags, backpacks, and travel accessories.
Focuses on affordability and durability, aiming to change how India travels.
Seeks ₹ Crore investment for a 0.75 equity share in the company.
Started in 2017 and achieved profitable sales growth every year.
Production is sourced 80% from outside the country and 20% from India.
Vision to contribute to the Make in India initiative by increasing domestic production.
Turnover has steadily increased from 2.18 crore in the second year to 57 crores in the current year.
Aims to reach 100 crores in turnover while maintaining profitability.

The company focuses on style and design as their main differentiator.
They have achieved product pricing market fit and have maintained their pricing consistently.
Safari is their biggest competitor in the mass market, while Aristotle is a brand of Bol and American Tourister Samas Group plays in the off-market.
The company's pricing ranges from Rs 1499 to Rs 2799 for different sizes of luggage.
They operate in the mid-premium segment, with prices ranging from Rs 2700 to Rs 3200.
The company sells predominantly through online channels, with 90% of sales coming from e-commerce marketplaces and 10% from their own website.
Their target customer base is primarily in the age group of 25 to 34 years.
The company has invested around 14% of their budget in marketing and focuses on colors and designs.
They have signed brand ambassador Rishabh Pant for offline marketing initiatives.

Nature Miles is a new age luggage brand focusing on style, variety, and fashion.
They have identified a strong customer cohort and believe that there is significant business potential in this segment.
The company is considering opening stores in high street locations as well as setting up kiosks in malls to capture both offline and online sales.
They aim to have a wide distribution network with retail stores and distributors to ensure maximum reach.
The projected business split is 68% online and 32% offline, with approximately 17% coming from GT stores, 5-6% from e-bus stores, and 5-6% from modern trade stores.
Nature Miles offers lifetime warranty on their bags made from polypropylene and promises to replace any cracked bag.
The company has not raised any equity and is seeking an investment of ₹ crores in exchange for a 0.75% equity stake.
The current revenue of Nature Miles is ₹57 crores and they aim to reach ₹100 crores.

Working capital needed is three times the monthly business income.
A valuation of Rs 400 crores is not suitable for the investor.
The investor is willing to invest Rs 400 crores but wants a win-win situation.
They propose a deal where they invest Rs 3 crores for a 25% stake and receive royalty.
The investor suggests a fair deal where 1% of sales goes back to the company.
Aman offers an alternative deal where he invests 100 crore upfront and provides additional funds at a later stage.
The company declines Aman's offer and suggests a joint deal involving all parties.
The company proposes a deal with a valuation of Rs 300 crores and royalty, which the investor is uncomfortable with.
The investor suggests removing the royalty and proposes a debt and interest deal instead.
The company is open to debt and equity but remains hesitant about the royalty aspect.