VIP Industries plans to expand its base in the e-commerce segment. At present, the company offers buying from its e-commerce site buytravelbags.com . To push the new initiative, the firm has also partnered with players such as Flipkart, Myntra, FashionAndYou, Bagskart, Jabong and Homeshop18, among others.
The company dominates the Rs 5,000-crore Indian luggage market. It plans to increase its revenues from the e-commerce segment to 30 per cent in the next two years.
“The e-commerce business is one of the fastest growing sales vertical for us. We plan to add resources in terms of back-end and increase promotional spends in this space,” said Radhika Piramal, Managing Director, VIP Industries Ltd.
Cornering close to 80 per cent market share in the Indian market, about 15 per cent of the company’s revenue comes from the international market. Its latest offering in the travel luggage space is the graffiti-designed Skybag that comes in two colours. The company will launch its third design in the soft luggage segment shortly. “The design and play of colours is bold and symbolises youth and adventure,” said Piramal.
The company plans to enter the ladies handbag segment with its special brand ‘Caprici’. It will be launched around Diwali this year, and will have exclusive handbag stores in cities such as Mumbai. “The product has been tested in the Delhi and Chandigarh markets and the initial response has been great. It will incorporate international styling and will be launched in 100 designs,” Piramal added. The price range will be from Rs 2,000 to Rs 5,000.
The product will be launched in top 15 cities across 300 outlets. “We are launching with an autumn-winter collection and next year we are going to have a spring-summer collection. The plan is to launch 100 designs every six months,” she added.
VIP industries has a network of nearly 11,000 multi-brand retailers and over 500 exclusive showrooms.