Getting off to a flying start

CAN THE DESIGN-FIRST D2C LUGGAGE BRANDS PULL THE RUG FROM UNDER THE FEET OF LEGACY PLAYERS?

- CHRISTINA MONIZ

DILIP PIRAMAL, CHAIRMAN, VIP Industries, surprised many when he sold 32% of the company's stake to a group of investors recently. Piramal said the younger generation in his family is not interested in managing the company, which has seen its market share slide over the past five years.

It's not just VIP. Samsonite, the second-largest luggage brand in the country, is also feeling the heat. In 2024, its sales fell 18%, and its mass market brand American Tourister saw a 31% decline in sales in the December 2024 quarter. Other brands like Safari too saw a decline of 27% in profits in the last quarter of CY24.

While the top three—VIP, Safari Bags and Samsonite—still control 86% of the ₹16,000-crore organised luggage market, the transformation in what was once a utility-driven category is undeniable. The change in consumer preferences is being driven by a bunch of home-grown players such as Mokobara, Nasher Miles, EUME and Uppercase that have put aesthetics and innovation at the centre of their product and marketing strategy.

That strategy looks to be paying off. Mokobara's revenue from operations more than doubled from ₹53 crore to ₹117 crore in December last year, while Nasher Miles clocked over 60% year-on-year growth since its launch in 2017.