Luggage majors focus on women’s bags

Luggage makers VIP and Samsonite will enter the Rs 1,500 crores

women’s handbag segment. Samsonite will launch a casual bag range for both men and women next month which will include a collection of women’s handbags as well. With the decline of hard luggage, VIP has begun focusing aggressively on soft luggage, of which women’s hand bags would be a key component. At 15 per cent per annum, the growth in the women’s handbags market is far more than the 11 per cent growth a year in the organized luggage market. This is the reason why luggage makers are showing interest in the competitive ladies handbag market. Dilip Piramal, chairman of the Rakesh Jhunjhunwala-backed VIP Industries, says ladies handbags would be another important area for them. They were traditionally strong in briefcases. With the decline of hard luggage, they began focusing aggressively on soft luggage, a key component of their business today.

VIP has close to a 60 per cent share in the Rs 1,300 crores branded luggage market where as Samsonite has close to 30 per cent share. The total luggage market is pegged at Rs 2,700 crores, with both organized and unorganized at 50 per cent each. Last summer Samsonite released a new line of bags incorporating flexible thin-film photovoltaic modules.