Baggit plans to enter Sri Lankan mkt

Baggit plans to enter Sri Lankan mkt

 Leading handbag company Baggit plans to enter the Sri Lankan market through a multi-brand outlet in April.

Baggit founder Nina Lekhi, who was in the city recently, said the outlet would be launched on a pilot basis. “We also have small distribution channels in the US and the UK, but our main focus is only on the Indian market. The market here is too big and there’s so much happening here,” she said.

Started in 1990, the Mumbai-based company has its presence in 71 cities across the country with 50 exclusive stores and over 400 multi-brand outlets.

Though the major chunk of Baggit comprises bags, followed by wallets, it has also ventured into making accessories like caps, belts, multi pockets bags for iPad, laptop and mobile covers, among others.

“In Bengaluru alone we have seven to eight stores. We are also targeting tier II cities with our low-priced range,” she added. The low-price range starts from Rs 1,100.

The Rs 100-crore company generates close to 7% sales from online. “We recently started catering to the men’s segment, and in two years time, we are targeting at lease 25% revenues from the new segment,” she said.