Samsonite is a renowned US based travel bag maker. It is expecting to reach the target of Rs 1000 crore revenues from India by 2015.
Samsonite is a renowned US based travel bag maker. It is expecting to reach the target of Rs 1000 crore revenues from India by 2015. To fulfill its dream, the company is aiming to double the number of its outlets to about 500 in the next five years. In India, the company has its presence as a joint venture, and is aiming for a turnover of Rs 400 crore in 2009. Currently it has a total of 235 stores in India. As told to Abha Garyali of FIHL by NP Singh, Samsonite India Director said, “Looking at the current growth rate of 35 to 40 per cent, it is very much possible to double our show rooms as well as reach our target of Rs 1000 crore.” Earlier, due to economic slow down the company had not gained satisfactory results, but recently the sales are picking up fast and it’s on the rise. The company will add about 50 stores by 2010 and expects revenue of Rs 480 crore from it. On the expansion process, Singh commented, “There will be a well balance of company owned and franchised stores but more emphasis will be on the franchise outlets.” He further added, “The company is focusing on Tier II and III cities as there is more growth potential in the small cities and towns.” Of the existing 235 stores, 180 are franchisees while 55 are company owned. Globally, Samsonite has 23 plants in different countries.