Samsonite eyes Rs 1,500 cr sales by 2013

Premium travel solutions company Samsonite is eyeing sales of Rs 1,500 crore by 2013 and add 25 stores every year mainly in the tier I and II cities, a top company executive today said.

"We are witnessing exponential growth in sales and have set a target of reaching Rs 1,500 crore by 2013. In FY10 we grew by about 44% to Rs 750 crore in revenue. So, to reach our target we plan to maintain the same growth level,"  Samsonite Managing Director Subrata Dutta told. Every two years, the luggage maker is doubling itsvolumes and this trend is likely to continue for the next five years, he said.
The company, which has 180 stores spread across tier I and II cities in the country, is also planning to add 25 stores every year. In line with additional stores, Samsonite is also planning to strengthen its workforce and its headcount would go up by about eight per cent every year over the existing
strength of 1,500  employees, he said.
"We are almost number one in the premium luggage segment and want to further validate our position," he said. Samsonite has its suitcases factory at Nashik, Maharashtra, with a capacity to produce one lakh units per month and caters to the whole of Asia and parts of Europe. When asked about increasing its present capacity keeping in line with the growing demand, Dutta said, the company is looking at outsourcing with exclusive manufacturers.
"We already have one such tie-up with a factory in Umergaon in Gujarat, who manufactures exclusively for us. We may enter into another such tie-up in one year," he added.