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GOBLIN INDIA Ltd. aims to reach an annual turnover of INR 120 Cr in 2 years

Posted On: 2019-06-06 23:22:25

Ahmedabad based luggage company Goblin India Ltd. envisions the company to increase its dealers from 300 to 1000 and aims to reach an annual turnover of INR 120 Cr by the year 2021-22. The company has received an excellent response from the market in the last few years.

The business has seen growth in its contribution to delivering a wide range of products to the customers. Other than the travel luggage accessories, they have dabbled into sectors like corporate gifts articles like umbrellas, novelty products, white goods, crockery and such other items helping their clients for developing their business.

Mr. Manoj Choukhany, Chairman and MD of Goblin, joined Goblin India in 2002 with a vision to create a famous and trusted luggage brand with innovative designs nationally and internationally that would cater to individuals and companies worldwide."

The Indian luggage industry is engaged in the production of luggage bags both in hard and soft categories. Growing preference for short haul travel and penchant to travel hassle-free is driving demand for new luggage categories away from traditional heavier luggage products. Currently, soft luggage segment accounts for approximately 75% share in India's luggage industry. India's travel goods and accessories industry has grown at an average rate of ~15% to value at INR 204 Bn in FY 2017. In 2017 the annual market size growth of the luggage and bags industry moderated marginally to about 13% following two major announcements i.e. demonetization and GST.

Having collaborations with around 84 vendors has helped in creating and reinforcing its image with an incentive distribution network all over India. To widen its reach online, the company has also involved with e-commerce platforms like Amazon and Flipkart.

"Our products are made of the finest quality of material, designed in Paris, France to make sure we are up to date with trends," further says Mr.Manoj Chaukhany. In a market where you get hard cabin luggage at INR 10,000, while competing with the brands like American Tourister, VIP, Skybags and few more, he aspires to deliver products that are made of the finest quality of material and are affordably priced.

'Innovation is the key', believes Mr.Chaukhany. This has led them to recently launch the cabin luggage and Hand luggage with USB Port. Under the guidance of Mr. Manoj Chaukhany, the company has also introduced the anti-theft trolley bag which comprises of charging port and a unique anti-theft feature, in which if your bag moves 10 Metres from the user, an alarm will be activated. The alarm will be connected to the mobile and can be switched off and on with the help of an app. This state of the art technology has been encouraged to give consumers a range of products with the most unique technology.

Currently, Goblin bags and luggage can be found at AVA Stores at Airport. They are present across all the PAN India outlets of AVA Merchandise, with plans of expanding their own retail outlet in Ahmedabad, Mumbai, Delhi, Bangalore, and Hyderabad in the next two years.

Source: Equity Bulls

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