The Hindu Business Line : Samsonite Black Label store in Hyderabad

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Hyderabad Jan. 30 Travel and accessory products company Samsonite opened its fourth flagship store, Samsonite Black Label, in Hyderabad on Tuesday. It plans about 100 exclusive outlets globally during the year.

This new store is part of Samsonite's global strategy to position Black Label as a leading, worldwide luxury travel and accessories brand.

Dr Ramesh Tainwala, President, Samsonite South Asia Pvt Ltd, told newspersons after the opening of the store, "The store has been designed by a French architect Nicolas Guillot. The design is very international and similar throughout the world."

`BLACK LABEL'

About the choice of the brand name Black Label, he said, "Black Label does sound like a liquor brand, but that's only in India and we are aiming at the global market. And in most designer collections globally, there is definitely a black label, be it men's wear or women's wear or any other category."

As of now, there are four Samsonite Black Label luxury brand stores in India, two boutique stores in Mumbai, one each in Chennai and Hyderabad. According to Dr Tainwala, "The Chennai store is our single largest store throughout the world built on a total area of 2,500 sq ft at a total cost of Rs 2 crore."

MARKET SHARE

Samsonite commands 32 per cent of the market of the total luggage industry in India, estimated to be worth Rs 800 crore, according to a company press release.

At a 30-plus compounded annual growth rate, Samsonite West Asia estimates to touch revenues of Rs 200 crore in the current year. In the top luxury segment, it enjoys over 70 per cent market share.

The company has 167 brand stores in India. It plans to add 50 new stores, including all its brands, in the coming six-eight months, taking the total number of exclusive Samsonite stores to 200.

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