Baggit, the homegrown brand is known in every home today. The brand not only gives a luxurious experience but has also become a style statement among youngsters. The success mantra behind the immense growth of Baggit is the continuous upgradation of its models, sinking with the generation.
About the founder:
Nina Lekhi, the 55-year-old founder of the cruelty free accessories brand Baggit, has a remarkable journey from a college failure to building a business generating over Rs 111 crores in revenues. In 1985, after failing her first-year Foundation Course of Arts, Nina found herself in the business world without a clear path forward.
Her shift in priorities during her growing up years led her to become a backbencher, but the failure served as a catalyst for change. Being called as stupid, duffer changed the route of her life making her choose the road less travelled by.
Nina decided to prove herself. Supported by her encouraging parents, she took on two part-time jobs to gain insights into the retail industry while waiting to retake her examination. The jobs helped her to understand the mechanism of building a business.
To the new beginnings:
Working in the retail section at Mike Kriplani Fashions and selling carpets at Shyam Ahuja, Nina earned Rs 400 and Rs 600 a month, respectively. These experiences fueled her entrepreneurial spirit, and in 1985, with Rs 7000 borrowed from her mother, Nina ventured into creating Baggit, driven by a desire to prove her worth.Starting with exhibitions and retailing at shops where she initially worked, Nina gradually built a clientele.
Her business grew organically, and in 1989, she opened a store at Kemps Corner in Mumbai with her brother. Over the 35-year journey, Baggit’s revenue soared to Rs 111 crores, and it now retails across 450 stores in India. It is currently planning to expand in tier 2 and 3 cities.
Baggit: business model
In a conversation with the better india she says, “Back then there was no real understanding of building a brand and all I was doing was following my passion and working hard.”
Nina’s focus on reinvesting profits and adapting to change set Baggit apart. The brand’s commitment to being eco-conscious and sustainable led to the decision to make all products 100% vegan. Today, Baggit employs 700 people, and the brand’s USP lies in manufacturing all its products in India.
About the Product:
The origin of the name Baggit is a quirky tale from a day at the swimming pool, where discussions about the business name led to the inspiration from Michael Jackson’s song “Beat it.” Nina emphasises that, in the early days, she was merely following her passion and working hard without a clear understanding of brand building. Their collection includes bags suitable for weddings, youth, autumn collection and many more. They have recently launched their travel bags, trollies, backpacks etc.
She says, “My idea of college was just fun and freedom and I did not put in any work. This led me to fail the first year of my foundation course,”.
Baggit vs Capresse
Baggit is exclusively known for its affordability, extensive range of designs, and focus on vegan and eco-friendly materials. Whereas Caprese for its premium craftsmanship, exclusive detail, and sophisticated style.
Consumer opinion, “I personally prefer Baggit for its affordability, one can explore their wide variety collections, to cater to their own personal needs. Both Baggit and Caprese are popular brands in the fashion industry, known for their stylish and trendy handbags and accessories. Ultimately, the “best” brand will vary from person to person.
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Manifestation into reality:
Reflecting on her entrepreneurial journey, Nina shares how she used visualisation to manifest success, a practice she continues even after nearly 35 years in business. Baggit’s story is a testament to resilience, hard work, and the transformative power of failure. Baggit India Private Limited’s revenue range is INR 100 cr – 500 cr for the FY23.
“I remember during the initial stages, it was word of mouth that got me my clientele. I started to do exhibitions, and also retailed at the same shops where I started working – Mike Kriplani Fashions.
It soon escalated to other bigger retail outlets like Shopper’s Stop and Regal, who wanted to stock up the bags. She is thankful she never had to take a bag and go from shop to shop to sell her product,”.
Frequently Ask Questions (FAQs)
1. What is Baggit, and who is the founder?
Baggit is a cruelty-free accessories brand known for its handbags and fashion accessories. The founder is Nina Lekhi, who started the brand in 1985 with a focus on affordability and sustainability.
2. How did Nina Lekhi start Baggit, and what challenges did she face?
Nina Lekhi started Baggit in 1985 after failing her first-year Foundation Course of Arts. She faced challenges such as societal judgments and a lack of understanding about brand building but overcame them through hard work and determination.
3. What sets Baggit apart in terms of its business model?
Baggit’s business model involves continuous upgradation of models, a commitment to being eco-conscious, and making all products 100% vegan. The brand’s focus on affordability and manufacturing in India contributes to its popularity.
4. Is Baggit making profits?
Baggit is poised for sustained double-digit growth through its nationwide expansion and anticipates a 25 percent increase in revenue for the ongoing fiscal year. In the previous fiscal year, the brand achieved a revenue of Rs 160 crore (approximately $24 million).
5. What is the revenue model of Baggit?
Baggit generates revenue primarily through product sales, retail presence in over 450 stores, a focus on eco-conscious practices, and continuous upgradation of product models to align with changing preferences.
6. How does Baggit contribute to sustainable practices in the fashion industry?
Baggit contributes to sustainability by making all its products 100% vegan. The brand’s commitment to being eco-conscious and manufacturing in India reflects its dedication to sustainable practices.
