Samsonite steps into footwear business
Luggage manufacturer and retailer Samsonite is widening its portfolio of products to include footwear. The products would be sold under two brands, Black Label and Samsonite, with the former catering to the luxury end and the latter to the premium...
By Benny Antony, TNN |
MUMBAI: Luggage manufacturer and retailer Samsonite is widening its portfolio of products to include footwear. The products would be sold under two brands, Black Label and Samsonite, with the former catering to the luxury end and the latter to the premium end of the market. The price range for these products in the shoe category would be in the range of Rs 2,000-4,000 and Rs 5,000-10,000, respectively.
Samsonite Asia president Ramesh Tainwala said: “We need to have a much more diversified and balanced portfolio for which we have decided to introduce the footwear brand in India. Samsonite started test marketing of shoes three years ago in Italy and now plans to launch them in India and Korea as part of our global launch plans.” The company will be investing close to Rs 18 crore in India in the first year and all the products in this category would be initially imported from Italy. According to industry estimates, footwear industry is expected to be around Rs 11,000 crore.
The company has set up design and development groups in the country which will later be one of the main sourcing hubs. "We will be working with vendors in Chennai, Delhi and Lucknow for sourcing of these products. In the next two to three years, we will be sourcing bulk of our products in this category from India itself,” Mr Tainwala said. The brands will be initially sold through the company’s existing network of exclusive brand outlets.
Samsonite Asia president Ramesh Tainwala said: “We need to have a much more diversified and balanced portfolio for which we have decided to introduce the footwear brand in India. Samsonite started test marketing of shoes three years ago in Italy and now plans to launch them in India and Korea as part of our global launch plans.” The company will be investing close to Rs 18 crore in India in the first year and all the products in this category would be initially imported from Italy. According to industry estimates, footwear industry is expected to be around Rs 11,000 crore.
The company has set up design and development groups in the country which will later be one of the main sourcing hubs. "We will be working with vendors in Chennai, Delhi and Lucknow for sourcing of these products. In the next two to three years, we will be sourcing bulk of our products in this category from India itself,” Mr Tainwala said. The brands will be initially sold through the company’s existing network of exclusive brand outlets.
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