Baggit to expand in tier 2, 3 markets across India

By

Maverick Martins

Published
May 22, 2018

Indian fashion accessories brand Baggit is looking to enter the tier 2, 3 markets across the country to expand its brand presence for growth and profitability in the current fiscal.
 

Baggit will open exclusive brand outlets and partner with multi brand retailers to enter new cities to expand its reach in the tier 2 and 3 markets. Baggit is looking at continuing its double digit growth with this pan Indian expansion and expects 25 percent revenue growth in the current fiscal. It had posted Rs 160 crore revenue (approx $24 million) during the last fiscal.
 
"We are already present in 100 cities through brick and mortar outlets and to reach out to the last mile audiences, we are also available in the leading online marketplaces of India, in addition to our own e-commerce portal baggit.com. In the coming months we will be targeting Tier II from Exclusive Baggit Outlets and Large Format Stores perspective and Tier III from Trade perspective," said Nina Lekhi, MD & Chief Design Curator, Baggit was quoted as saying by ANI.

"Internationally, we want to spread our wings in other countries too. We have already entered the Sri Lankan market through a multi brand outlet," added Nina.
 
Baggit was founded in 1989 by Lekhi and the brand is now present in 1,000 large format retail stores across India with 52 exclusive stores.

Baggit had recently signed up Bollywood actor Shraddha Kapoor as its brand ambassador for the next two years to expand its consumer base across the country.