Started in 2019, Modern Myth is an Indian startup. They specialize in elegant bags in all shapes and sizes made of creating. The founders revealed that they began 2019 with just thirty bags catalogue out of four Karigars. They had over 140 designs at the time of their pitch; their bags are sold on their own website and Amazon. Seeking an investment of ₹75 Lakhs for 5% of their company valued at ₹15 Crores, the founders.
Modern Myth’s latest month’s sales of ₹14 Lakhs bring in ₹2.5 Crores lifetime. The creator of the company revealed that their designs constitute their key USP and that they manufacture internally. Vegan Leather makes everything they have in bags.
Company Name: Modern Myth
Founder: Saurabh Tokas & Oshina Hans
Product: Handbags
Highlights
1. Made from fine vegan leather, cruelty-free goods provide an ethical and environmentally friendly substitute for animal-based goods.
2. Features more than 140 distinctive styles, so accommodating various fashion tastes and events.
3. Reasonably priced, fashionable, high-quality handbags enable a larger audience access to them.
4. Strong Online presence accessible on their website, Amazon, and other easy purchase e-commerce sites.
5. Designed for modern professionals, students, and fashion-forward people seeking elegant yet useful accessories, trendy and practical designs reflect.
6. Handcrafted Quality: Emphasizes exact workmanship to guarantee quality appearance and durability.
7. Offers to fit varied demands and outfits a flexible range of styles including tote bags, slings, backpacks, and clutches.
Pitch Details
Ask: ₹75 lakhs for 5% equity (Valuation: ₹15 crores).
Deal: After negotiations deal couldn’t happen
Investors: NO DEAL
Conclusion:
Modern Myth did not get an investment from the Sharks even though it presented a good product with a significant concentration on cruelty-free design. The panel worried about the brand’s scalability, competitiveness, and uniqueness in a very saturated handbag market. The company needed a stronger unique selling proposition to stand out even if it has a great choice of designs and a well-known internet presence. Modern Myth’s dedication to sustainability and elegance guarantees ongoing development even though the pitch did not generate financing. Improved branding techniques and market positioning will help the business to flourish in the cutthroat fashion sector.
