Fashion Brand Miraggio Secures USD 6.5 Mn to Open 20 Stores, Launch 500+ New Products Miraggio plans to open 15 to 20 offline stores across India over the next two years and introduce more than 500 new products within 18 months.
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Delhi-based fashion handbag and accessories brand Miraggio has raised USD 6.5 million (INR 55 crore) in a funding round led by RPSG Capital Ventures and Client Associates Alternate Fund, with participation from Prath Ventures.
This round follows an earlier USD 1.2 million raised in 2023, bringing Miraggio's total funding to USD 7.7 million.
The fresh capital will be deployed to accelerate retail expansion, enhance brand development, upgrade technology, and grow the team.
Miraggio plans to open 15 to 20 offline stores across India over the next two years and introduce more than 500 new products within 18 months. These additions will include laptop bags, backpacks, mini bags, clutches, and small leather goods, broadening the brand's appeal.
Founded in 2019 by Mohit Jain, Miraggio is redefining accessible luxury in the fashion accessories space. The brand combines cutting-edge design, quality craftsmanship, and a keen understanding of contemporary women's style. It has won the loyalty of over 700,000 customers and rapidly established itself in a competitive market.
Mohit Jain, Founder and CEO of Miraggio, said, "We are thrilled to welcome our new investors on board and truly value their belief in Miraggio's long-term vision. This funding marks a pivotal moment for us as we accelerate our journey toward becoming an omnichannel fashion handbag and accessories brand. With a sharper focus on delivering elevated retail experiences, expanding our product portfolio, and building deeper connections with customers across India, we're excited to shape the next chapter of Miraggio's growth story."
Abhishek Goenka, Managing Partner at RPSG Capital Ventures, stated, "Miraggio stands apart in its ability to offer exceptional value for money, combining aspirational design, quality, and experience with premium affordable pricing, making it highly relevant to India's new-age consumers."
Shivam Diwan, Executive Director at Client Associates Alternate Fund, added, "Miraggio's commitment to innovation positions them well to reshape the handbag and accessories industry in India."
