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The sales at airport facilities are growing at a very high rate
Da Milano, a premium leather brand, has been known for its craftsmanship and styling for the last 25 years. Sahil Malik, managing director, Da Milano, gives insights on the luxury market and the booming hides business in India.
How would you describe the market for luxury products in India? What do you expect from the future?
Luxury market place is expanding at an accelerating pace and is expected to cross $18.3 billion by this year with CAGR of about 25 per cent.
The rise of emerging economies and the growing global middle class has changed luxury beyond recognition. Luxury market as a whole has seen an unprecedented growth. Better connectivity and advancement in technology will continue to drive new opportunities in digital innovation and reaching new frontiers.
What is the size of the market for high-end leather bags in India? At what rate is it growing?
There is no official data that is separately available for handbags. However, Da Milano has grown at a CAGR of 35 per cent over past three years.
What according to you is fuelling the growth of the luxury market?
Aspirational customer, people wanting to have signature style and rise in disposable income has definitely fuelled the growth of luxury market.
What are the key features Da Milano leather bags?
At Da Milano, products are crafted to meet the aspirations of discerning clientele in affordable price brackets. Our offerings are sturdy, innovative, exquisite in design, spacious and available in plethora of colours.
Which collections of Da Milano have been well-received in the domestic and in the international markets?
Our range of handbags, business essentials, travel and small leather goods including wallets, card cases, pouches are well appreciated by our customers across the globe.
Which markets do you export abroad? What kind of hides are in demand in international markets?
South Africa, Russia and New Zealand are the countries where we have been consistently exporting from a long time. Ostrich, snake, bamboo, buff and cattle are few popular skins in demand.
What are the latest trends and innovations driving the leather bags and accessories industry?
Coming up of light weight polycarbonate travel gear, exceptionally crafted small leather accessories like jewellery cases, tie cases and more have raised the industry to a new level.
Which product segment - women's handbags, men's accessories, travel bags, business essentials, is popular in-store and online?
Categories such as handbags, wallets, business essentials and small accessories have been well received by our patrons over the years. However, travel is one category that is slow moving online as people like to physically experience the product before making the final purchase.
How is the airport retail market in India? How have the sales been at such locations?
Airport retail market opens horizons to reach out to people around the globe. Millions of customers can be targeted through airport retail medium almost every day. The product range at airports are designed to meet customer aspirations of different nationalities. Travel and holiday customers are distinct from executive and business traveler hence our products are designed to suit different style preferences and utility.
The sales at airport facilities are growing at a very high rate and by being present at world's busiest airport locations, Delhi and Mumbai, we reach out to international travelers as well.
Which new markets do you plan to expand in future?
We want to increase the size of our customer base from 2 million to 20 times as much by marking global footprints at important locales and capitals and at the same time serve the aspirations of clientele who appreciate fine quality and craftsmanship.
The union government has approved establishment of a mega leather cluster recently, what are your thoughts on it?
It is definitely good news for the leather industry as not only sourcing leather will be easier but it will also create employment opportunities which will in return augment country's economic growth.
Published on: 26/08/2016
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.
Apparel Commercial Director, South Asia and EMEA Distribution
The LYCRA Company
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