National, May 6, 2026: Emerging luxury innerwear, clothing, and lifestyle brand MHYTH has successfully raised ₹5 crore (approximately $600,000) in a pre-seed funding round, marking a significant milestone in its journey to redefine India’s premium fashion and lifestyle segment.
The investment round was backed by a Mumbai-based single-family office led by noted businessman Mohammed Asief Khan. This latest infusion of capital follows MHYTH’s earlier angel funding round in December 2024, which also saw participation from Mumbai-based asset management firm Nine Rivers Capital. Together, these strategic investments signal growing confidence in MHYTH’s vision to create an India-first luxury brand with global appeal.
Founded by entrepreneur Mitali Rai, MHYTH is positioning itself as a one-stop premium destination at the intersection of fashion, function, and comfort. The brand’s expansive product ecosystem spans designer lingerie, shapewear, nightwear, resort wear, loungewear, dresses, and daily essentials—aiming to cater to modern consumers seeking elevated design without compromising on practicality.
As India’s fashion landscape evolves, MHYTH is crafting a bold narrative centered on luxury made for Asia and India, while benchmarking itself against some of the world’s most recognized premium brands, including Victoria’s Secret, Hunkemöller, Savage X Fenty, Marks & Spencer, La Senza, Calvin Klein, and Agent Provocateur. Rather than simply replicating global models, the company is focused on creating a uniquely regional luxury proposition that addresses specific market gaps in fit, accessibility, and consumer preferences.
Speaking on the company’s growth philosophy, Founder and CEO Mitali Rai emphasized that disciplined execution remains at the core of MHYTH’s expansion strategy.
“At MHYTH, execution drives everything we do. We are building with a clear focus on global standards while addressing real consumer needs and gaps in the market,” Rai said.
Launched in early 2025 across Bengaluru and New Delhi, MHYTH was co-built alongside COO Vivek Mittal and operates on an automation-led, asset-light business model. This operational structure allows the company to remain agile while optimizing efficiency across production, inventory, and customer delivery.
Despite receiving early interest from semi-large conglomerates for co-building opportunities, MHYTH has intentionally chosen to focus on strengthening its product quality, refining customer alignment, and building a robust India-based manufacturing ecosystem. This approach is particularly notable in a category historically dependent on manufacturing hubs in China and Europe.
By investing in local manufacturing and adopting a low-inventory, high-rotation operating model, MHYTH aims to deliver globally competitive design, superior fit, and luxury-grade quality at more accessible price points. This strategy is expected to resonate strongly with India’s growing aspirational consumer base while simultaneously laying the groundwork for international expansion.
Investor Mohammed Asief Khan highlighted the importance of strategic clarity in MHYTH’s trajectory, expressing strong confidence in the brand’s potential.
“Great brands are built on sharp positioning and consistent execution. MHYTH has both, and I’m backing Mitali to establish it as a powerful and recognizable name in the global premium space from India,” Khan said.
With India’s premium fashion and innerwear market witnessing rising consumer sophistication, increased disposable incomes, and growing demand for comfort-driven luxury, MHYTH appears well-positioned to capitalize on this shift. The fresh capital will likely support brand expansion, category diversification, manufacturing enhancement, and deeper market penetration.
As MHYTH scales its presence, it represents a larger movement within India’s startup ecosystem—one where homegrown brands are no longer just competing domestically but are increasingly aspiring to build globally relevant luxury labels.
By combining innovation, consumer-centric design, and India-based manufacturing excellence, MHYTH is seeking to establish itself not just as a fashion brand, but as a defining lifestyle force emerging from India’s premium retail landscape.
