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| Samsonite to spend Rs 100 cr on expansion, marketing |
| Press Trust of India / Mumbai Dec 30, 2009, 20:46 IST |
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The luggage and accessories major Samsonite today announced a Rs 100-crore retail expansion and marketing plan for the next year, including opening 200 outlets across the country.
"We plan to invest Rs 100 crore for brand-building and retail expansion in the domestic market," Samsonite president Greater Asia Ramesh Tainwala told reporters here today.
Of the total spend earmarked for 2010, over Rs 67 crore will be used for brand-building and promotional activities while the rest will go to augment distribution network to 400 outlets, he said, adding the company will also launch Samsonite Business Stores, two of which will be launched at the Mumbai airport next week.
"We will open the business stores in areas like airports or business zones. Each store will be of 400-500 sqft," Tainwala said.
Samsonite entered the country in 1996, sells brands like Timberland, Lacoste range of bags, wallets, backpacks, laptop bags, and belts, and Samsonite shoes.
The company expects to double its turnover by 2012 from around Rs 500 crore this financial year, he said. In 2008, the company had clocked a turn over of Rs 390 crore.
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