Lugguage manufacturer Samsonite Corporation is planning to launch shoes, sunglasses and watches in India under the brand name 'Samsonite Black Label'.
"This is our brand extension strategy in India," Marcello V Bottoli, president & CEO, Samsonite Corporation, told Business Standard. The group has plans to invest $10 million in the country over the next six months, indicated a source close to the company.
The new products will be promoted through its Nasik-based subsidiary Samsonite South Asia Pvt Ltd.
Samsonite is currently marketing its shoes in Italy, Germany, Korea and Japan, and has begun test-marketing of watches and eye wear in Italy.
Samsonite has plans to set up eight new lifestyle retail outlets in leading Indian metros in the immediate future, he said. These stores will market new lifestyle range of products including luggage brands.
"As a brand extension of Samsonite in India, the company will launch shoes in the country by the end 2005, followed by watches and eye-wear. All the products will cater to the premium and lifestyle segment," said Bottoli.
Samsonite South Asia is a 60:40 JV between Samsonite Corporation and the Tainwala family. "Samsonite India is going for massive expansion. From a capacity of 25,000 units per month, the company will be tripling its capacity to 75,000 units by 2005 end," said Dr Ramesh Tainwala, President, Samsonite South Asia Pvt Ltd.
About 85 per cent of the production is exported to markets in Europe, US and Japan. Samsonite has about 120 brand stores in the country.
