Samsonite CEO says discounting in India’s luggage market is unsustainable, eroding profitability as new players aggressively cut prices. While the sector keeps growing, that growth may slow due to a higher baseline and intensifying competition. Samsonite managed to outpace VIP Industries in revenue, yet VIP’s profits reportedly dropped sharply despite rising sales.
D2C luggage startups including Mokobara, Nasher Miles, and Uppercase are under pressure as raw material costs jump 35% to 50% amid conflict-linked disruptions from West Asia. With margins squeezed, these firms may seek new capital and restructure costs, which could curb their aggressive customer acquisition and alter growth forecasts.
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