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VCGuy
Believe me, itโs not...ย โขย 11m
A space that seems to have sparked investor interest is: Travel Luggage ๐งณLately, we've seen significant activity in this space - Feb 24: Mokobara raised $12 M from Peak XV Mar 24: Safari Industries raised $27 M from Lighthouse India Focused Fund May 24: ICON raised a $1.2 M seed from DSG Consumer Partners Jun 24: Eume raised a Pre-series A of ~$2 M from Ashish Kacholia Jul 24: Nasher Miles raised a $4 M bridge round from Singularity Early Opportunities Fund, Narendra Rathi Likely happening soon: Uppercase likely to raise from Accel at a valuation of $60 M ๐Brands are also collaborating to introduce new travel luggage lines - (1). Ethos Watch Boutiques has partnered with Rimowa (German premium luggage brand) to open stores in India. (2). Dream Theatre will soon launch premium luggage under Diego Maradonaโs franchise. ๐กThis sector seems to benefit from - - Rising disposable income - Indians traveling a lot more: frequent weekend getaways, national and international trips - Rising demand for stylish and functional luggage - Shorter replacement cycles ๐At present, branded luggage, dominated by VIP, Safari, and Samsonite, represents 25% of the $6 B market. โถ๏ธ With a truckload of competition, it will be intriguing to see how this space evolves.
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