Luggage brand Mokobara has announced the opening of its 15th store in the country. The 600 sq ft store has come up in the city of Jaipur in Rajasthan, which attracts among the top international visitors to India.
Mokobara is a design-first brand on a mission to elevate the joy of travel for everyone, according the brand’s mission statement.
The Bangalore based brand has on offer, luggage including for cabin, check-in, trunk and kids’, everyday, diaper, kids’ and travel backpacks, totes, handbags, briefcases, duffles, and travel accessories such as travel pillows, raincovers, umbrellas, laptop sleeves, etc.
On a post money valuation of INR 660 Cr (USD 80 Mn), the direct to consumer brand has raised INR 220 Cr (USD 23 Mn) to date from Peak XV Partners (formerly Sequoia Capital), Sauce.vc, Saama Capital, Mamaearth’s Varun Alagh, Livspace’s Ramakant, among others.
Founded in 2019 by former Urban Ladder executives, Sangeet Agrawal and Navin Parwal, the company’s revenues almost doubled in FY 2023 to INR 117 Cr, with a loss of INR 4 Cr.
Editor’s Note
There was a time when it was trendy to have online only stores, focussing on the digitally savvy consumers who preferred to shop at the click of a button.
Gone are the days when D2C brands which have raised several crores to sell online only.
The new normal is to initially “set up offline experiential stores” so potential consumers can “touch and feel” the brand. Over time, offline retail overtakes online sales.
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