As of now, the retailer established a presence in over 400 stores across 200 cities in 24 states within just two months of launching its offline retail operations
Bengaluru: Homegrown luggage brand Nasher Miles is aiming to expand its offline footprint with plans to have a presence in 500 stores by Diwali and 1,000 stores by the end of the year, the company said in a press release on Tuesday.
As of now, the retailer established a presence in over 400 stores across 200 cities in 24 states within just two months of launching its offline retail operations.
“Our aspiration was always to be an omnichannel brand,” said Lokesh Daga, co-founder of Nasher Miles. “After establishing a strong online presence and reaching a scale of Rs 100 crores, we felt the time was right to expand into offline channels, which still represent the largest segment in our category.”
In addition to traditional retail, Nasher Miles is present in several e-commerce platforms like Myntra, Amazon, and Flipkart as well as quick commerce channels like Blinkit and Zepto. It has also forayed into modern retail with Broadway, in Delhi, an experiential store led by Kishore Biyani’s nephew Vivek Biyani.
To accelerate its Make in India campaign, the luggage brand is in the process of establishing a manufacturing and warehousing facility in Gujarat, with a monthly capacity of over 50,000 units. This move is expected to optimise manufacturing costs, reduce time to market for both business-to-business (B2B) and direct-to-consumer (D2C) customers, increase production to cater to growing demand via different channels, and allow easy customisation for B2B orders.
“This is our first step in a series of many as we look to consolidate our Make in India initiative. We are on track to move over 75% of our production to domestic facilities by the end of the financial year,” said Abhishek Daga, chairman of Nasher Miles.
In July this year, the company raised $4 million in funding in a bridge round at a valuation of $30 million. Read more about it here.
