Luggage maker Samsonite India sees good growth potential in the booming travel market. A highly unorganised category even a decade ago, the industry is growing as more people travel more and opt for branded products.
The company is targeting lifestyle consumers for future growth.
“The business of travel is growing. More consumers are migrating to branded travel goods and are willing to pay more. This has given us a significant market share in the last couple of years. Going forward, we will tap both the upper end and also the mid-segment with our range,” Mr Subrata Dutta, Managing Director, Samsonite India, said.
In India, the company competes with the luggage maker VIP which has over 50 per cent market share in the organised category.
He said, “We have been growing at over 52 per cent annually.”
Samsonite Corporation started its India operations in 1996 as Samsonite South Asia. It is a 60:40 joint venture with the Tainwala family.
The company said it commands a market share of 32 per cent of the total luggage industry estimated at Rs 900 crore.