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TAMASQ x NakhreWaali

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TAMASQ Acquires NakhreWaali

March 10, 2025

NakhreWaali has found a new home.

NakhreWaali, a fashion accessory brand known for its handcrafted statement pieces, has been acquired by TAMASQ, which also operates in sustainable fashion with a special focus on handcrafted Indian fashion. Through this move, TAMASQ has the full acquisition of all assets, bringing together two brands with a shared ethos of preserving artisanal craftsmanship while scaling responsibly. NakhreWaali will continue to retain its core creative identity while obtaining new growth opportunities under TAMASQ. The strategic acquisition aims to expand NakhreWaali's presence across global markets while preserving artisanal craftsmanship. 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.



NakhreWaali was founded by Gursakhi Lugani in 2017 and the brand went on to pioneer 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. 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 over 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 documentary 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. Trademarked by its quirky brand voice and sustainable roots, NakhreWaali's products remain recognisable even without a logo. 



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."

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."



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 more than 500,000. Founded in 2014, it is known for crafting and upcycling Indo-Western style dresses from handpicked saris and traditional textiles. Gaining immense popularity in 2023, Mogra has grown exponentially in influence due to its viral corsets and mermaid dresses.

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. 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 sustainable industry. 

"For us, this goes beyond market expansion. This is about taking a brand that deserves global recognition and giving it wings. We are amplifying a movement towards more conscious, culturally resonant and sustainable industry."
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.

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