Plastics firm Princeware International is targeting over Rs 100 crore revenue from luggage business by fiscal 2017 as it doubles its retail presence, states a PTI report. The company, which reported Rs 500 crore revenue in the last fiscal, started retailing luggage six months ago.
“We are looking at over Rs 100 crore revenue from our luggage business by year 2016-17. We are expanding our retail presence by doubling our stores this year,” Princeware International National Sales Manager Sanjeev Mehrotra told PTI.
The company’s luggage business reported a turnover of Rs 50 crore in the previous fiscal. It has 20 retail stores spread across the country. “We are targeting 60 percent turnover growth this year,” Mehrotra added.
The company manufactures luggage products from its plant in Daman in Gujarat. Princeware manufactures and retails home-ware products such as bottles, storage boxes, thermometer products and luggage.