Samsonite to invest Rs 150 cr

Samsonite Corp, the leading luggage maker has earmarked an investment of Rs 150 crores in India primarily on advertising and marketing. It also has plans to reposition its brand through better retail visibility. The company also has plans to expand its portfolio. Samsonite which has launched shoes, wallets and belts, will be introducing eyewear range too. As reported, the total marketing and promotion budget for this year is Rs 100 crore and retail expansion and marketing combined would add the budget up to Rs 150 crores. The company has three brands -- Samsonite Black Label, Samsonite and American Tourister -- in its portfolio. In 2011 the company even plans to open 100 new stores for both brands with planned investment of Rs 50 crore by the company.