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VIP Industries to grow by 10 percent this fiscal

VIP Industries hopes to grow its revenue by 9 to 10 percent during the current financial year on the back of an economic slowdown in the country. The company has strengthened its retail presence in East India with the addition of two new stores in Kolkata. VIP is also planning to expand its product portfolio and launch women-only soft and hard luggage variants to consolidate its market position in the luggage and accessories segment.

Currently, VIP owns around 22 percent market share in India with its fashion and accessories brands like Carlton, Skybags, Caprese, Aristocrat, and Alfa. For the financial year 2018-19, VIP’s profit increased by 15 per cent to Rs 145 crore ($20.3 million) while revenue grew 26 per cent to Rs 1,785 crore against the previous year. VIP has over 600 showrooms across the country and also sells through retail chains Shopper’s Stop, Lifestyle, Central, Big Bazaar and e-commerce platforms.

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