The Chennai-based luggage retailer Witco has planned to reposition itself as a fashion-and-lifestyle brand by retailing apparel from leading brands.
Speaking to media at the launch of Witco’s third store in Bengaluru, VP Harris, managing director, Witco (India) Pvt. Ltd, said: “Luggage has ceased to exist for functionality alone, and aspects like colour, design, style and fashion are critical today. From being called ‘luggage experts’, we now are positioning ourselves as a premium lifestyle brand with the tagline ‘Travel in Style’.”
The company is also planning to set up around 50 stores within the next two to three years in major cities including Hyderabad, Delhi and Mumbai. “We will set up at least one large-format flagship store in each city with retail space of around 7,000 to 9,000 square feet,” said Harris.
To fund expansions, the company is looking for private equity investment of around Rs 40 crore.