We recently met the management of VIP Industries to understand its business model and growth prospects. The company is Asia's leading manufacturer/seller of hard and soft luggage, backpacks, suitcases, shoulder bags, office bags and duffel trolleys. VIP has range of leading brands, positioned across entire price range, catering to value, mid and premium price points. The Indian luggage industry is mainly dominated by unorganised players (50-55% market share). The organised industry is oligopolistic in nature with VIP having 55%+ market share, followed by...