Baggit to increase presence with new EBOs

Bags brand, Baggit plans to increase number of its exclusive brand outlets (EBOs) to 60. The brand currently operates 43 such exclusive stores across the country. Its range is also available through large format stores, online stores as well as MBOs and exports. The company is eyeing Tier II and III cities to expand its network.

Baggit was founded in 1990 to offer a unique concept of bags using traditional handicraft skills with modern designs in non-leather, eco-friendly materials. With each new collection the brand explores current and futuristic style trends that ensures its buyers are always in style.

The label competes with names like Hidesign, Lavie and Da Milano apart from the wide range available from unbranded players in India. As per market study, the size of ladies handbag market in India is estimated at around Rs 2,500 crores. The segment is projected to grow by 15 percent per year, to reach the Rs 4,000 crores-mark over the next five years. The key growth drivers for brands in the segment are: increasing number of working women, rising incomes, increasing fashion-consciousness and aspiration levels, and influx of foreign brands.