Samsonite India foresees huge sales growth in 2018
The global travel luggage and accessories brand Samsonite have announced that they aim to reach an Indian revenue total of 1,600 crore rupees (approximately 240.5 million US dollars) in 2018 and to increase production in Nashik.
Samsonite India believes it can increase sale by 18 to 20 percent this year to end 2018 with a revenue total of 1,600 crore rupees. “For the year 2017, we did around 1,250 crore rupees [approximately 188 million dollars] in sales,” Anushree Tainwala, the Executive Director of Marketing for Samsonite South Asia told India Retailing. “Our goal is that we want to grow around 18 to 20 percent in 2018, and we should be touching around Rs 1,600 crore.”
Tainwala stated that the company has around 38 to 40 percent of the market share of the travel luggage section of the Indian market. “In the next two years we want to achieve 45 percent of market share here,” said Tainwala.
In order to increase revenue in India, the brand aims to increase production at their Nashik factory which will entail a significant financial investment to improve design and development. “Currently, we manufacture around 80,000 pieces [per month] in that facility,” explained Tainwala. “Our goal is that by June we enhance it up to around one lakh pieces and by the end of the year we want to touch two lakh pieces.” If the brand’s estimations prove correct, the year 2018 promises to be a big one for Samsonite India.
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