| Brand | Maisha |
| Company Name | Maisha Lifestyle Products Private Limited |
| Founders | Nayan Hasmukhlal Shah, Esha Nayan Shah, Neel Ilesh Vora |
| Original Ask | Rs. 75 lakhs for 3% equity at a valuation of Rs. 25 crores. |
| Deal | Rs. 10 lakhs for 1% equity at a valuation of Rs. 10 crores & Rs. 65 lakhs debt @18% interest rate. |
About the Product
Maisha is a lifestyle accessory brand that offers a diverse range of handcrafted products, including handbags, box bags, tote bags, sling bags, duffle bags, travel bags, backpacks, wallets, pouches, laptop bags, and clothing and footwear. Each product is made by local artisans from the finest weaves of cotton and jute, which ensures high quality and durability. In addition, the brand uses minimal vegan leather instead of animal leather, making their products eco-friendly and cruelty-free.
The brand’s woven colourful textured fabric bags are made from eco-friendly materials like a cotton slug, jute, jacquard, burlap, and other sustainable materials. Maisha’s products are of high quality and affordable, making them accessible to a wide range of customers.
Maisha’s exclusive collections, such as Go Social, Get-Set-Glam Belts, Diaries, and Tassels, offer customers a unique selection of lifestyle accessories that complement their individual styles. Customers also choose Maisha’s products for gifting on special occasions like weddings, anniversaries, Diwali, Holi, Women’s Day, etc.
Maisha’s products are available on their own website, as well as on popular e-commerce platforms like Amazon and Nykaa.
Founders & their story
Nayan Hasmukhlal Shah
Esha Nayan Shah
Neel Ilesh Vora
Maisha by Esha was founded in December 2018 by Esha Shah, a 29-year-old entrepreneur based in Ahmedabad. After realizing that her passion was in design and not in her chosen career path of interning as an inter-CA student, Esha joined her husband’s packing business to help conceptualize tote bags for a travel company.
She then started designing travel bags with quotes stitched into them, which became an instant hit. In 2018, Esha, her father, and her husband brainstormed how she could monetize her passion for design, leading to the creation of Maisha by Esha, a brand that started with tie-and-dye products.
After setting up an Instagram account, Esha named her brand Maisha, meaning prosperity in Swahili, and began taking orders for tie-and-dye products. It was not until Esha received a call from a participant in a local exhibition that she first sensed a real business opportunity. She then decided to showcase her products, including her trademark three-pocket Jacquard bags in various colors, at the exhibition.
The bags were sold out within hours, and Esha’s father and husband realized the immense potential of her designs and joined the brand. Today, Maisha by Esha is supported by her father and husband, has established its own studio, and launched a website amidst the pandemic.
About the company:
Maisha is a lifestyle accessory brand based in Ahmedabad, Gujarat, India. Started in 2018, the company has quickly gained popularity among bohemian lovers and conscious shoppers alike. They are committed to producing high-quality, affordable, aesthetically pleasing, and versatile products.
Since its inception, they have gained a loyal customer base, with over 25,000 satisfied customers & has sold over 50,000 products, including handbags, box bags, tote bags, etc.
In line with its vision to become the market leader in the cotton fabric-based handbag industry in India, the company has recently launched its international website to cater to its customers’ demands overseas.
Their commitment to sustainability and ethical practices sets them apart in the industry and is a testament to their dedication to providing their customers with the best products.
Revenue:
They spend 24% of sales on marketing every month. In October 2022, the marketing spend was Rs. 11 lakhs. 20% is their repeat rate.
In FY 18-19, the sales were Rs. 5 lakhs; in FY 19-20, the sales were Rs. 23 lakhs; in FY 20-21, it went up to Rs. 73 lakhs.
In FY 21-22, the sales were Rs. 2.92 crores. The year-to-date sales in FY 22-23 are Rs. 3.5 crores. The projected net sales in FY 22-23 are Rs. 6.5 crores. The net profit every month is around 10%.
The last three months’ sales are;
August 2022 – Rs. 50 lakhs
September 2022 – Rs. 65 lakhs
October 2022 – Rs. 47 lakhs
Founders’ Ask
Rs. 75 lakhs for 3% equity at a valuation of Rs. 25 crores.
Offers:
Amit offered Rs. 10 lakhs for 1% equity at a valuation of Rs. 10 crores & Rs. 65 lakhs debt @18% interest rate.
Final Deal
The deal was finalized with Amit for Rs. 10 lakhs for 1% equity at a valuation of Rs. 10 crores & Rs. 65 lakhs debt @18% interest rate.
