India’s fastest growing specialty retail brand Mokobara has opened its newest outlet at Indore, Madhya Pradesh. This makes it 14 cities where the brand has exclusive brand outlets (EBOs).
Mokobara, a design-centric luggage brand was launched in 2019 by Sangeet Agarawal and Navin Parwal through the Direct to Consumer (D2C) model.
Due to the ensuing travel ban arising from the Covid-19 pandemic, Mokobara, along side other global luggage brands struggled to meet sales. However, when revenge travel began since Summer 2021 onwards, Mokobara became the go-to brands for discerning travellers who enjoy carrying colourful luggage.
Mokobara designs its luggage in-house as well as with manufacturing houses, which are then produced across Asia in countries such as India, China, Thailand and Myanmar.
The brand claims that its products are crafted with premium, vegan leather and offers twin packs of transit luggage such as Check-in and Cabin baggage in the same styles along with backpacks, totes, handbags, etc.
Editor’s Note
The Bangalore based brand has raised INR 100 Cr (USD 12 Mn) over the years and its key investors include Peak XV Partners, Sauce VC and Saama Capital and was last valued at INR 240 Cr (USD 80 Mn).
Mokobara, which counts brands such as Uppercase, EUME and Assembly as its key competitors, reported INR 117 Cr, a 120% growth over the previous year and also reported a loss of INR 4 Cr.
The branded luggage market in India is estimated to be INR 17,000 Cr (USD 2.33 Bn) and is expected to have a CAGR of 10% over the next 10 years,
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