Samsonite to enter eyewear, watch segments

Samsonite India is in the process of diversifying its product portfolio. The company may enter the eyewear and watch segments in the next two years.

"The idea is to reposition Samsonite as a travel and lifestyle brand. Our aim is to include all the products which a consumer will use while travelling," said Subratha Datta, COO, Samsonite.

Globally, Samsonite is not present in any of these categories. According to industry sources, the domestic eyewear segment is pegged at Rs 1,800 crore and the watch segment at Rs 2,500 crore. Of this, the luxury watch segment accounts for Rs 7,00 crore.

Currently, Samsonite is all set to enter the Rs 11,000-crore footwear segment in India. "Our target audience is the aspirational premium segment," said Datta.

The products will be sold under the two brands - Black Label and Samsonite.

The Black Label range will be priced at Rs 10,000 to Rs 20,000, while the Samsonite range will be priced at Rs 3,000 to Rs 6,000. The company aims to cater to both the premium and the luxury segments with these brands. The footwear brands will be launched globally tomorrow and are designed by Italian designer Alberto Del Biondi.

"Two months ago, we did a few test marketing activities in Mumbai and then we decided to launch the products," said Datta. Globally, the company entered the footwear segment 13 years ago in Italy. "For our footwear business, India and Korea are our focus markets. In India, we have got our positioning absolutely right and our new products will enhance our brand," said Datta.

In the first year of operations, the company will be investing Rs 20 crore in the footwear operations. The company expects to generate Rs 100 crore from its footwear business in the next three years.

Samsonite plans to leverage on its distribution network and retail stores for its footwear business. "Apart from our own retail stores, our footwear range will be available at leading retail outlets and footwear stores," said Datta. Currently, the company plans to import its footwear range from Italy.