Cap­rese hand­bag crosses ` 100 crore in sales

Shoes & Accessories - - Updates I India -

Cap­rese, the mass premium ladies hand­bag brand from VIP In­dus­tries, has crossed ` 100 crore in sales on new de­signs and a value for money propo­si­tion. Since its launch in 2012, the brand has launched a premium line of hand­bags co-cre­ated with brand am­bas­sador and Bol­ly­wood ac­tor Alia Bhatt. The ‘Au­tumn Win­ter 2018’ col­lec­tion is a colour­ful range avail­able in dif­fer­ent styles of totes, satchels, clutches and sling bags as well as wal­lets priced be­tween ` 1,699 and ` 4, 200.

“The brand Cap­rese has been grow­ing at a com­pound an­nual growth rate (CAGR) of 47%. We want to be present in both the mass and premium seg­ments and the launch of the Alia Bhatt co-cre­ated line will help us serve the premium seg­ment tar­geted at work­ing women and af­flu­ent housewives look­ing for in­ter­na­tional de­signs in their hand­bags,” said Sudip Ghose, chief ex­ec­u­tive, VIP In­dus­tries.

The com­pany is eye­ing the value seg­ment, tar­geted at col­lege-go­ers, in the next three to six months. The range will be start­ing at ` 1,000, which is cheaper than a reg­u­lar Cap­rese hand­bag, which starts at ` 1,800. “We want to strike a bal­ance be­tween the premium seg­ment, which helps in in­creas­ing prof­its, and the soon-to-be launched value seg­ment where the vol­ume game is,” Ghose ex­plained.

Cap­rese is avail­able at more than 1,000 points of sale across the coun­try, in­clud­ing se­lect com­pany run stores, fran­chisee stores, multi-brand deal­ers and lead­ing depart­ment store chains like Shop­pers Stop, Lifestyle, Cen­tral and Pan­taloons. It is also avail­able on e-com­merce plat­forms like Myn­tra, Flipkart, Ama­zon, Jabong, ABOF and Tat­a­cliq. “More than 40% of our over­all sales come from e-com­merce plat­forms, which have be­come one of the big­gest con­trib­u­tors to our growth,” said Ghose.

It is in­ter­est­ing to note that women per­sonal ac­ces­sories brands, par­tic­u­larly hand­bag la­bels, have been lever­ag­ing celebrity star power to drive sales. Bag­git, for in­stance, is en­dorsed by Shrad­dha Kapoor while Lavie by Planet Re­tail is pro­moted by Kan­gana Ra­naut. Hidesign re­cently signed up ac­tor Kalki Koech­lin as its brand am­bas­sador.

Ac­cord­ing to Euromon­i­tor, the mar­ket size for bags and lug­gage in the per­sonal ac­ces­sories seg­ment is about ` 204 bil­lion, ex­clud­ing all sports equip­ment bags. Be­tween 2013 and 2018, the sec­tor grew at a com­pound an­nual growth rate of 11.8% and is ex­pected to grow at a of 5% by 2023.

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