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Believe me, it’s not... • 8m
A space that seems to have sparked investor interest is: Travel Luggage 🧳Lately, 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 🔀Brands 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 Maradona’s franchise. 💡This 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 🌓At present, branded luggage, dominated by VIP, Safari, and Samsonite, represents 25% of the $6 B market. ▶️ With a truckload of competition, it will be intriguing to see how this space evolves.
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