How Nasher Miles can become 2x it's size in 2024?

Hello Profiters

Welcome to our latest Newsletter. Every fortnight, I write one piece that goes to 1000s of marketing, CX & after-sales leaders of fast-growing consumer brands around the world. If you haven’t subscribed yet, please do.

We spent some time understanding the current landscape of Nasher Miles, and how they can 2x revenue in 2024 sustainably without having to spend a lot on Performance Marketing). Here is our Analysis👇🏼

Who doesn’t know about Nasher Miles after their 5 Shark Deals on Shark Tank Season 3?

It is too soon to comment on these predictions. Let’s dive straight into it:

The Brand

Let’s go a little back in time around 7-8 years ago, the founders of Nasher Miles - Abhishek Daga, Lokesh Daga, and Shruti Kedia Daga found same-old and boring bags all over the airport baggage belt.

It was the time when they felt something better and fashionable could be done but how to make a move was still a question. It was this time in 2017 when they understood how the bag or luggage market is booming physically but there isn’t much happening online.

They got the first mover advantage and in the first year itself, Nasher Miles managed to earn 2.8 crores in revenue. It’s damn big for a new brand!

Slowly and steadily their graph moved and came back even stronger after the pandemic.

But what is that one aspect that Nasher Miles is nailing at? Apart from their innovative thinking

🌟 They have understood the generation - yes and it can be seen through their website. It is simple, clear, and aesthetically pleasing while being effective.

📸 Their products were seen everywhere on Instagram and other socials from running ads to influencers carrying them for cool airport looks

💪 And lastly their confidence - they know their strength and like to play on them. The move to appear in the shark tank is one of the biggest proofs.

Let’s dive into how they can 2x their revenue within a year:

1. Presence in Retail Stores - Luggage is a touch-and-feel product, and most of the purchase in this market happens at an offline store. So, it is a must to be present, where your customers are. At least I’ve fifty of them in my own family.
2. Improving Customer Experience: They have an amazing Warranty Policy, but the customer’s experience is broken, and there’s no way for customers to register their products for their Warranty & Claims. Current Warranty Page:

The biggest question would be how can they provide an Apple-like experience that their Modern Customers love?

Experience is the biggest factor, that customers come back to a brand.

Using a simple Warranty Registration & Claims Technology to delight customers & reduce overheads. It will solve 2 purposes:

1. Excellent Customer Experience: Customers will be able to see all their registered products in one place & request Claims as required.
2. Valuable First-Party Data: Now they will have customer information of their Amazon or Offline customers. This can be used to up-sell/ cross-sell their other offerings. Let's do some math here.Let’s assumeNashermiles sells to 10,000 customers on Amazon.50% register their products. They will have the Name, email, and Phone of 5,000 customers.Considering 20% of the customers makes a repeat purchase of AOV 3,000 Rs in Year 1.They will be able to generate an additional 3 crore in additional revenue in year 1 alone. Here is how one of the global brands is providing an exceptional experience to its customers.

That’s it for this edition. See you in the next 2 weeks.

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Cheers,

Abhishek Agarwal