Mumbai, Apr 18: Antler, the number one brand in the UK Luggage market, has entered India through an exclusive marketing tie up with Safari Industries Ltd, a leading player in the Travel Goods market. Safari Industries (India) ltd CMD Mr Amul Mehta told reporters that Antler Travel goods would be sold in 125 outlets, including Safari-Antler premium outlets, Multi brand premium outlets and prominent lifestyle stores.
The size of total travel goods market in india is estimated to be around Rs 2000 crore and is growing at 15 per cent per annum. The premium segment of the market is estimated to be Rs 250 crore and is growing at a scorching rate of 35 per cent in recent times, he said. Alter market share would be at least five per cent in India. The company's projection for next three years was around Rs 200 crore and it would invest Rs 500 crore for the current financial year. The company plans to expand around 100 outlets in the next three years.
It has a manufacturing unit at Halol, near Vadodara, with a production capacity of five lakh bags per annum.
He urged the government and corporation commissioner to abolish 5.5 per cent octroi duty on luggage bags.
Ms Claire Willoughby, head of Export Division of Antler Ltd UK, informed that Antler products would be available in India in the price range of Rs 4,695 to Rs 11,995. Antler offers wide variety of Travel Goods in the premium segment, which include Laptop Cases, Casual bags, Messenger bags and others from their classic to couture collections.
According to Mr Prasanta Choudhary, CEO of Safari, the total turnover of the company in the year 2007-08 is Rs 110 crore. The company foresee compounded growth rate of 30 per cent over the next three years.