1. Faridabad luggage plant ramp-up - The company’s first owned manufacturing facility in Faridabad, built with an initial investment of ₹56.5 crore, became operational in November 2025 with an annual capacity of 10 lakh pieces. Management targets a 3x increase in luggage production capacity by FY27, which directly improves cost structure and gross margin in the largest category.
2. Rights issue fully deployed into plant - The ₹49.15 crore rights issue (oversubscribed 220%) closed in September 2024, with ₹24.5 crore allocated to plant and machinery for the luggage subsidiary and the balance to working capital. With the capex funded and no deviation reported, the balance sheet carries the capacity without further dilution, setting up operating leverage as volumes ramp.
3. Exclusive Brand Outlet (EBO) rollout - The first EBO launched in FY25, with a plan to open 50 company-owned outlets across top Indian cities by FY29. Owned retail captures full margin and builds brand pull in high-footfall locations, shifting mix away from wholesale dependence.
4. Quick commerce integration - Products are now live on Blinkit and Zepto, with a “massive influx” of SKUs across quick commerce and online marketplaces underway. Quick commerce places the brand in impulse-buy, high-frequency purchase flows in urban centres, adding a margin-accretive channel with no incremental store cost.
5. Direct-to-Consumer channel target - Management targets 20% of total revenue from D2C platforms by FY29, supported by investments in e-commerce and CRM systems. D2C is the highest-margin channel in the mix and, at 20% of a growing revenue base, would materially lift blended operating margin from the current \~4%.
6. Travel gear product refresh - Eight new luggage models, the Black Gold Collection, a Gen Z & Millennial series, and a Tier-2/3 range are launching, alongside a materials shift to polycarbonate and polypropylene. A refreshed, demographically targeted portfolio resets the brand’s pricing power and relevance, supporting volume growth and reducing markdown risk on legacy SKUs.
7. Institutional sales channel activation - Dedicated teams are driving entry into CPC, CSD, and GeM government procurement platforms. Government channels open a large, recurring revenue stream with bulk order sizes and low customer acquisition cost, diversifying revenue beyond consumer discretionary cycles.