VIP, Safari Industries: Luggage stocks will take a long time to get going

Market analysts hope the industry would recoup from the Covid-19 slump by FY22. Historical trends, they say, suggest that luggage industry sales witness strong rebound after two consecutive weak years

The coronavirus (Covid-19) pandemic has forced the luggage industry to pack its bags for now and stay low as nations across the globe stay locked down. With leisurely travel expected to remain suspended, outlook for players back home, such as V.I.P Industries and Safari Industries, appears bleak albeit only in the near-term, analysts say.

At the bourses, the stock price of VIP Industries has tanked 56.6 per cent from its recent high of Rs 506.95 hit on February 11, 2020. As for Safari Industries, it has corrected 49.2 per cent from its recent peak of Rs 732.95, also hit on