VIP to focus on premium seg,to open 25 Carlton stores in FY17

"Products in these categories are purchased more frequently than luggage so the growth as well as sales will be larger for these categories, defining our focus on them," she said.

VIP Industries has over 200 company managed stores, another 200 franchises and work with over 2000 multi-brand retailers.

It is also looking at increasing its shop-in-shops in multi-brand stores to promote Carlton, Piramal said.

She said the company is seeing "healthy sales" having grown 15 percent (up to December) with a profit of about 33 percent, and expects to retain if not grow its marketshare.

"With the current categories, we will focus on scaling up rather than new acquisitions over the next few years," she added.

VIP Industries is a market leader in the branded luggage segment with about 50 percent marketshare, presently, with more than half the players in the market operate in the unbranded segment.

The company also exports its products, across the Middle East, the UK, the US, Germany, Spain, Italy and select African and South East Asian countries under the brands brands of VIP, Carlton, Skybags, Caprese, Alfa and Aristocrat.