# Luggage makers pin hopes on festive, wedding seasons for growth

> Luggage brands target festive and wedding demand to offset raw material cost spikes.
- Title: Luggage makers pin hopes on festive, wedding seasons for…
- Summary: Luggage brands target festive and wedding demand to offset raw material cost spikes. Luggage companies expect 2-3% growth this fiscal year as festive and…
- Keywords: luggage makers, festive season, wedding season, raw material costs, polypropylene, polycarbonate, safari industries, vip industries, crisil ratings, motilal oswal financial services, compound annual growth rate, cagr
- Source: mint — https://livemint.com/industry/luggage-makers-festive-season-sales-raw-material-costs-11792381500273.html
- Author: Neethi Lisa Rojan
- Published: 2026-10-19T06:59:28+00:00
- Read time: 2 min
- Topics: luggage makers, festive season, wedding season, raw material costs, polypropylene, polycarbonate, safari industries, vip industries, crisil ratings, motilal oswal financial services, compound annual growth rate, cagr
## Luggage industry struggles with raw material costs
Luggage companies faced a tough first half due to high raw material prices and slower travel demand.

> Major listed luggage companies had a tough period following the rise in raw material prices.
## Festive and wedding seasons expected to boost sales
The October-December quarter, which accounts for 30% of annual sales, is expected to benefit from holiday travel, wedding shopping, and corporate gifting.
## Raw material prices surge after US-Iran war
Raw material prices rose 40% year-on-year immediately after the outbreak of the US-Iran war.
## Crisil forecasts 2-3% industry growth this fiscal year
Crisil estimates luggage volumes will grow only 2-3% this fiscal year, suggesting a stronger second half may not fully offset earlier weakness.
## Safari Industries profit declines due to material costs
Safari Industries reported a 5.4% decline in Q1 FY27 consolidated net profit to ₹ 47.8 crore due to a 32.9% y-o-y increase in material costs.
## VIP Industries revenue drops from demand headwinds
VIP Industries reported a 11.7% decline in Q4 FY26 consolidated revenue from operations to ₹ 436.23 crore due to demand headwinds in key retail channels.
## Industry projected to grow at 12% CAGR by 2028
The Indian luggage industry is projected to grow at a 12% compound annual growth rate to reach ₹ 267 billion by 2028, up from ₹ 170 billion in 2024.
## Raw material prices cool but remain 20% higher
Companies report raw material prices have cooled from recent highs but are still 20% higher than the same time last year.
## Swiss Military sees revenge consumption in travel
Swiss Military reports travel is recovering with revenge consumption happening as consumers return to pre-pandemic spending habits.

> Travel is recovering, and like after covid we saw revenge travel happen. We're actually seeing revenge consumption happen.
## Corporate gifting drives premium luggage sales
Destination weddings are estimated to lift premium luggage sales by 10, 15% annually, according to Motilal Oswal.
## Key takeaway

Luggage companies expect 2-3% growth this fiscal year as festive and wedding seasons boost sales after raw material price surges.