NakhreWaali, a pioneer in handcrafted fashion jewelry, acquired by TAMASQ

The strategic acquisition aims to expand NakhreWaali's presence across global markets while preserving artisanal craftsmanship

GURUGRAM, India, Feb. 13, 2025 /PRNewswire/ -- NakhreWaali, the D2C fashion accessory brand known for its handcrafted statement pieces, has been acquired by TAMASQ, which operates in the sustainable fashion space with a focus on handcrafted Indian fashion. This move brings together two brands with a shared ethos of preserving artisanal craftsmanship while scaling responsibly. Through this, TAMASQ has the full acquisition of all brand assets, ensuring that NakhreWaali continues to retain its core creative identity while leveraging new growth opportunities.

Gursakhi Lugani founded NakhreWaali with just ₹1.5 lakhs in personal savings after she quit her job, and gave up on her Ivy League B-school admission. The brand pioneered India's premium handcrafted fashion jewellery segment, commanding over 70% market share. With a supply chain built on a network of 150+ skilled artisans across India, NakhreWaali maintained zero machinery dependency, preserving traditional craftsmanship and creating sustainable employment for artisan communities. This makes NakhreWaali's products recognisable even without a logo. Through these years, the brand has remained entirely independent, operating without external funding, scaling through internal accruals, and maintaining net profit margins exceeding 35%. Today, its reach extends to 11 international markets, including the USA, UAE and Italy.

NakhreWaali has been more than just a conventional brand. It has built an emotional connection with its organic community of 150,000+ high-retention customers. Not just that, but Bollywood elites like Kareena Kapoor Khan, Sara Ali Khan, Sonam Kapoor, and Masaba Gupta have endorsed the brand, with the entire team of Guneet Monga's Oscar-winning movie endorsing NakhreWaali to the Academy Awards. The brand's global appeal has been further validated by its presence at New York and Milan Fashion Weeks.

For TAMASQ, this move represents a natural, organic expansion into the handcrafted accessories space, complementing its existing D2C clothing brand, Mogra Designs, which has cultivated a customer base of over 500,000. Mogra, known for making dresses from handpicked saris and traditional textiles and upcycling to now trending corsets and mermaid dresses has grown in appeal to all age groups.

The immediate focus will be to strategically infuse capital and grow the brand without losing the authentic spirit that made NakhreWaali distinctive in the first place. In this vein, the entire existing NakhreWaali team and its artisan network will be retained. This approach allows TAMASQ to preserve the brand's integrity while leveraging its broader ecosystem for growth. Furthermore, with a 45% YoY growth in ethical fashion consumption in India, the acquisition of NakhreWaali aligns seamlessly with TAMASQ's vision of offering unique, sustainably produced, artisan-crafted fashion to a growing base of conscious consumers.

Talking about the acquisition, Gursakhi Lugani, the Founder of NakhreWaali, said, "When I announced the shutdown, I had no plans of selling the brand. But the overwhelming community response, coupled with our highest-ever revenue during this period, attracted strategic interest. Soon enough, I had two term sheets on the table. While having multiple acquisition opportunities was humbling, the choice was clear. TAMASQ's vision perfectly aligns with how I always envisioned NakhreWaali's growth - prioritising community, maintaining ethical production, and creating innovative designs that stand the test of time. The synergy was immediate. I'm confident that under TAMASQ's leadership, NakhreWaali will continue to bring its signature Nakhras to a global audience while staying true to its artisanal roots. It is time for this baby to go to boarding school."

Hitesh Shah, Founder & CEO of TAMASQ, mentioned, "NakhreWaali isn't just about fashion accessories. Its market exit unveiled an extraordinary narrative of brand loyalty that transcends traditional customer relationships. The brand demonstrates an exceptional capability to cultivate "true believers" rather than mere transactional customers – a rare and valuable organisational asset."

He further added, "TAMASQ is pioneering a transformative approach to preserving India's artisanal heritage through a curated portfolio of fashion brands. For us, this goes beyond market expansion. We see immense potential in taking a brand that deserves global recognition and giving it wings while preserving its soul. We are amplifying a movement towards more conscious, culturally resonant and sustainably produced fashion."

Looking ahead, NakhreWaali will continue its e-commerce operations while expanding its presence with a dedicated showcase at the Mogra Designs headquarters store in Bangalore. The upcoming Spring 2025 collection marks a strategic pivot, serving both existing audiences and broader market segments through curated B2B2C partnerships and selective offline placements across India and globally.

About Nakhrewali
NakhreWaali is a vibrant and human-made fashion brand that beautifully merges India's rich cultural heritage with modern aesthetics. NakhreWaali aims to create a meaningful dialogue between the past and the present. Each Nakhra is a kaleidoscope of colors, infused with embroidered emotions that breathe life into every stitch, and the unique positioning of the brand has helped us emerge as a pioneer of statement accessories in a niche market. By taking forth the artisan-led India story, it aims to craft products that showcase the brilliance of textiles from every nook of our country. The brand has established a strong presence in 15 cities domestically and 10 countries globally, with our creations adorning the streets of Paris, the corners of Florence, the beaches of Miami or the big city of Dubai. We are present in 30+ handpicked stores across the globe.

About TAMASQ
TAMASQ stems from the Sanskrit word 'tamas', which stands for darkness. The essence of the brand is to bring to light the forgotten textiles of India. We at TAMASQ ensure each product is of superior quality and heritage, with a global twist. Our designs are created in-house and are not mass-produced.

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