 "VIP Industries, Samsonite and Safari Industries form nearly 90 per cent of the organised luggage industry – which is only 40 per cent of the entire sector -- in terms of market share.")
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
