The leading luggage manufacturer, VIP Industries Ltd (VIL) is planning to grow 20% every year for the next five years.
The company is mulling to open around 60-80 outlets every year pan-India. It is also planning to aggressively promote all its brands viz Aristocrat, Alfa, Skybags, Footloose and its international brand- Carlton.
The company is already enjoying a strong position by holding 55% market share in the organized sector in the country. Presently, the company has three manufacturing facilities located at Nashik, Sinnar and Haridwar, with a joint manufacturing capacity of 1.5 lakh pieces.
“Indian market is growing and we are able to meet the aspiration of Indian market. We are expecting 20 per cent year-on-year growth for the next five years. We have adopted aggressive marketing strategies with multi-brand and multi-channel approach. So VIP will be a total different company in the next two years,” Dilip G Piramal, Chairman and Radhika Piramal, Managing Director, VIP Industries Ltd.
The company has started working on the roadmap by investing on the design and advertising segment. VIL is planning to launch their international brand ‘Carlton’ this calendar year. The company has maintained its position among the customer base due to its high volume, reasonable price and excellent quality.