Luggage brand Delsey Paris plans to look to the Indian market for growth and is positive about its outlook. The French business will invest to increase its manufacturing operations in the country as part of its movement of around half of its production out of mainland China.
“India is one of the economies that we have [a] very positive outlook for the next five years,” said Delsey Paris’ global chief executive Davide Traxler, ET Bureau reported. “We are all looking for what’s going to happen in the US, what’s going [to] happen in Europe, but everyone seemed very confident in India. And that is very important because it’s such a huge population and a huge market. It is certainly a land where we want more presence, investing more and also sourcing more and purchasing raw materials.”
Delsey Paris has reported more than doubling its global turnover over the past two years and the Indian market has followed this trend, the Economic Times reported. The business currently manufactures around four million items each year and plans to increase this total. Delsey Paris plans to begin manufacturing in India by creating products for the Indian market and then later begin exporting its Indian-made goods.
“There was a lot of concentration in mainland China, but we have moved about 50% of production and distributed it to other countries in Southeast Asia and India is part of this rebalancing of our production,” said Traxler.
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