Baggit targets smaller towns

Baggit is planning to open exclusive stores across the country, especially targeting Tier II and III cities. Right now the brand is present in 48 exclusive stores and more than a 1000 large format stores and multi-brand outlets in India. Baggit is a handbag and accessories brand. It is present in 90 cities and has a strong online presence.

Mumbai-based Baggit, excels in blending traditional craftsmanship and modern day designs into its wide range of women's handbags. These handbags are designed keeping in mind the needs and style of the modern woman. Baggit handbags are available in different types like hand-held, hobos, satchels, shoulder bags and totes.

Baggit has developed an alternative model for its next phase of growth. The company will operate a new range of bags and accessories at almost half the price to that of the company’s earlier collections to cater to a wider range of consumers in smaller cities across the country. It will sell the low-priced range in smaller towns. It closed 2015-16 at Rs 73 crores in revenue and expects to earn Rs 95 crores in 2016-17.

The Indian fashion and lifestyle market is expected to touch Rs 3,94,000 crores over the next five years. Currently the market is estimated at Rs 2,21,000 crores and is growing at a compounded annual growth rate of 12 per cent.