Luggage makers pin hopes on the festive, wedding seasons to drive growth
New Delhi, Oct. 19 -- Luggage makers are hoping that a longer festival and wedding season will help lift sales after a difficult first half marked by high raw material costs and slower travel demand.
The October-December quarter, which typically accounts for about 30% of annual sales, is expected to benefit from holiday travel, wedding shopping, and corporate gifting. Companies are also seeing some relief as prices of key inputs such as polypropylene and polycarbonate ease from their recent highs.
The optimism follows months of pressure on profitability. Prices of crude-linked raw materials surged after the outbreak of the US-Iran war, while slower travel growth and inflation-hit consumers further weighed on demand.
Still, the industry...
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