Leveraging Luggage Market
Brand in sync with the latest trend is strong, light, vibrant coloured, compact and stylish.BY Seema Seth | comments ( 0 ) |
Luggage has emerged as one of the important paraphernalia that make a smart fascia after other things like dresses, accessories etc. Whether one is travelling by plane, in train or simply going to the office, he will need it in some form. The old day Baksa, Trunk or Thaila has been replaced by stylish luggage that not only takes care of belongings but also ricochets on a person's personality at the same time.The new age people have decided to always look trendy and fashionable, always give a thought to the most appropriate piece of luggage that will make them look good. In the same way that they maintain their wardrobe, their makeup kit and their shoe rack, they ought to maintain a good set of travel bags for themselves. So, the market is always throbbing with buyers with specific needs. Classy luggage is the latest trend and retailers are cashing in on this fad-conciousness.
Luggage Types and Brands
Basically, retailers hoard all range like leather briefcases, computer cases, carry-ons, garment bags, garment carriers, kids’ luggage, totes, backpacks, duffel bags, motorcycle luggage, trolley bags, vanity case, suitcases and handbags, each piece offering its own unique features and uses. Every bag/case is available in many materials, sizes, colors, shapes and prices. No matter what the purpose for the luggage will be, there is no shortage of options to pick and choose from in materials that range from leather, suede, denim, nylon and even metal. Even waterproof material is available in the market. The brands that are available are Samsonite, Travelpro, Tumi, Ace, Ameribag, Briggs & Riley, Hartmann, Olympia, Lacoste, Lark, Timberland and Zero Halliburton. There are a lot of cheap luggages also available that may not be branded, but trendy and robust in quality.
Keeping with the Trend
Moreover, India, as a prime tourist spot of the world, experiences a large volume of travelers every year. As a result all luggage and travel bags companies in India are closely following international trends and designs. Other features like ample safety features, theft-proof locking system, combination locks and sturdy, strong and light weight material used to manufacture the bags and suitcases, attract the customer while giving him wide options to choose from. Efficient compartmentalization is also given ample importance as customers desire organized interiors with separate compartments for carrying CDs, floppies, shaving bags, etc. A break away from the usual trend of greys, blacks and browns is in the demand for more vibrant colours like bright reds, green, blues, burgundy & floral prints. While you are making sure you have the luggage that is best for your traveling needs, don't forget about the accessories you may also need. There are many accessories that are used while traveling, including: adapters, surge protectors, toiletry kits, travel pillows, water bottles and luggage carts. No matter where you are going, for however long you will be there, you can feel confident in the fact that when it comes to luggage, there is something for everyone on your list!
A wide range of luggage and travel bags of many brands available in India have now found their way into Global markets also.
According to a spokes person, VIP Industries, “There is a shift in demand from hard luggage to soft luggage and we import soft luggage from China instead of making it. In the current year, our soft luggage sale will account for over 60 per cent of our turnover”.
Manish Vyas, Vice President - Marketing, VIP says, “The Indian luggage industry is growing at a good pace. We are expecting a growth of around 40- 45% in the premium sector.” With the coming holiday season, the industry is expected to witness drastic growth in smart luggage segment. The Indian luggage industry is on the edge of taking off on a new growth curve as travel starts becoming increasingly demanding and stylish at the same time.
Conclusion: The luggage market in India has been growing steadily due to increasing income levels and large scale visibility due to rise in retailers. Moreover, since travels improved on month on month basis, passengers carried by various domestic airlines grew by 27%.Also, due to introduction of new lighter hard luggage with using polycarbonate as basic input.
The market was valued at INR 31 bn in 2009 and is growing at 19% CAGR. The market is dominated by a few major players who face strong competition from the large unorganized sector. Indian Luggage industry is currently undergoing a consolidation phase. The luggage market comprises of three segments: the premium segment with 15% of total market share, the popular segment and the standard segment. VIP Industries and Samsonite are the two most dominant players in the premium segment. VIP enjoys a market share of 58 % in popular segment. The luggage market is dominated by the unorganized sector with 5% market share. Northern & western India are the biggest markets in the industry. The organized sector (8%) is growing at lesser pace when compared to the unorganized sector (25%).
The acquisition is part of Samsonite’s ongoing strategy to enhance and strengthen its global
- Stock Watch
Samsonite to acquire US
World’s popular luggage maker, Samsonite has decided to buy luxury bag rival Tumi Holdings for $1.8