Luggage Stocks Set for Big Returns: Elara Capital Bets on Safari, VIP

• India's luggage industry is projected to grow at a 12% CAGR to ₹36,000 crore by 2028, entering a sustainable recovery phase.
• Elara Capital predicts branded luggage share to rise to 60% by 2027, driven by utility-based demand across segments.
• Safari Industries has significantly outperformed VIP Industries over five years, with 54% CAGR returns vs. VIP's 2.5%.
• VIP Industries faces financial pressure but its recent ownership change to Multiples and focus on recovery could lead to a re-rating.
• Elara Capital sets a target price of ₹3,111 for Safari (37% upside) and ₹430 for VIP (9% upside), despite recent stock declines.

Why It Matters: Elara Capital sees strong growth in the luggage sector, recommending Safari and VIP for potential returns.