VIP ties up with Caprese, forays into ladies handbags

Luggage major VIP Industries recently introduced Caprese,

making a foray into branded ladies handbag category. The company aims to be a dominant player in the Rs 2,000 crores segment over the next five years and is also eyeing lifestyle and fashion accessories for women. It holds the exclusive brand rights to Caprese in all markets, including Europe and is currently in talks to distribute the brand in Hong Kong, Singapore and Dubai in addition to launching the same in the domestic market.

Seeing a huge gap in the ladies bag segment, where according to VIP, no dominant player exists in the Rs 2,000-7,000 price point category, the company has decided to cash in on the opportunity between the high price points of the luxury brands and the inferior style and quality labels. And it is certain that company’s strength in design, sourcing and retailing will help in uniquely positioning the brand in India.

On the revenue contribution front, VIP expects Caprese’s sales to be equal to luggage sales since fashion according to them is a larger market than luggage. The company will roll out the handbags in 100 cities and sell them at retail outlets, including 400 VIP Lounges.