The slump in overseas travel has hit luggage carrier retailer Witco, which is now expanding its lifestyle accessory and men’s apparel portfolio to offset the dip in sales.
“Long-distance travel, especially air travel is closely linked with sales of premium luggage carriers. The economic slump has resulted in a decline in sales in this category. In a city like Bangalore, where IT companies have been contributing considerably to travel purchases, the dip is as high as 20 per cent,” said V P Harris, managing director of Witco.
Luggage brands occupy 60 per cent of the total products in Witco showrooms, the rest being lifestyle accessories.
Last October, Witco initiated retailing men’s apparel brands too. Witco started off with Arrow and Louis Phillipe brands in formal wears. Now it is adding brands, including Wills Lifestyle, Zodiac, Indian Terrain, Switchers and Genesis and Basics in the retail chests. “We also want to be a one-stop-shop for all the products a holiday traveler needs,” said Harris.
Source: Financial Chronicle