Tamasq acquires accessories brand NakhreWaali, plans market expansion

Direct to customer fashion and accessories brand NakhreWaali has been acquired by sustainable fashion business Tamasq after announcing that it would shut down. Now, the brand is looking at market expansion, both in India and internationally. 

“NakhreWaali got acquired,” announced NakhreWaali on Facebook. Tamasq aims to harness the acquisition to complement its clothing brand Mogra Designs and strategically infuse capital to fuel expansion. NakhreWaali will continue its e-commerce operations and launch a showcase at the Mogra Designs flagship store in Bengaluru. 

“NakhreWaali isn’t just about fashion accessories,” said Tamasq’s founder and CEO Hitesh Shah, Asian News International reported. “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.”

NakhreWaali specialises in handcrafted fashion jewellery and works with over 150 Indian artisans to create its products. As Tamasq has acquired all brand assets from the brand’s founder Gursakhi Lugani, the business will next focus on responsible scaling of operations and leveraging new growth opportunities, Tribune India reported. Currently present in 11 global markets, Tamasq is keen to build on NakhreWaali’s international retail presence. 

“When I announced the shutdown, I had no plans of selling the brand,” said Gursakhi Lugani. “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.”