Leading Luggage Brand Safari Industries Raised $27 Mn

Safari Industries is a leading luggage brand in India that offers a range of products, such as trolley bags, backpacks, duffle bags, and accessories. Founded in 1974 by Sumit Duseja, the company is currently steered by his son, Sudhir Duseja, serving as the managing director and CEO. With a robust presence in the offline market, Safari Industries boasts a network of over 600 distributors and 10,000 retailers nationwide. Additionally, the company has extended its reach to the digital realm, retailing its products through its official website as well as prominent e-commerce platforms like Amazon, Flipkart, and Myntra.

Related: D2C Luggage Brand Mokobara Secures $12 Million in Series B Funding

Despite the challenges posed by the COVID-19 pandemic, Safari Industries exhibited resilience, witnessing a remarkable resurgence in both sales and profitability. In the third quarter of FY21, the company recorded a revenue of INR 229 Cr ($27 Mn), marking an impressive 18% year-on-year growth. Furthermore, Safari Industries reported a net profit of INR 15 Cr ($2 Mn) during the same period, reflecting a substantial 50% year-on-year increase. This commendable performance can be attributed to the resurgence of domestic travel, the festive season, and the burgeoning demand for luggage products. As the travel and tourism industry gradually recuperates from the pandemic’s impact, Safari Industries remains poised to sustain its growth trajectory, leveraging evolving consumer preferences and its unwavering commitment to innovation and quality.

Safari Industries has ambitious plans to boost its luggage business, with the help of the funds raised from Lighthouse Funds. The company plans to:

• Expand its product portfolio: The company plans to launch new products and categories, such as laptop bags, travel accessories, and premium luggage, to cater to the diverse and evolving needs of the customers. The company also plans to introduce new features and designs, such as smart luggage, hard luggage, and trendy colours, to attract the young and urban customers.
• Expand its distribution network: The company plans to increase its offline presence, by adding more distributors and retailers, especially in tier 2 and tier 3 cities, where the demand for luggage products is growing. The company also plans to strengthen its online presence, by partnering with more e-commerce platforms, and by enhancing its own website and app, to offer a seamless and convenient shopping experience to the customers.
• Expand its online presence: The company plans to invest in digital marketing and branding, to increase its visibility and awareness among the online customers. The company also plans to leverage social media, influencer marketing, and content marketing, to engage and interact with the customers, and to showcase its products and offers.

Safari Industries is a leading luggage brand in India that offers a range of products, such as trolley bags, backpacks, duffle bags, and accessories. The company has raised INR 229 Cr ($27 Mn) from Lighthouse Funds, a growth-stage private equity firm, to boost its luggage business. The company plans to use the funds to expand its product portfolio, distribution network, and online presence, to cater to the growing demand for luggage products in the post-pandemic era. The company has also witnessed a strong recovery in its sales and profitability, after being hit by the Covid-19 pandemic, which had disrupted the travel and tourism industry. The company expects to maintain its growth momentum in the coming quarters, as the travel and tourism industry recovers from the impact of the pandemic. Safari Industries is a luggage pioneer that is raising funds to grow its market share and revenue in the luggage industry.