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Founder and MD, High Spirit Commercial Ventures Pvt Ltd
Tushar Jain has over 20 years experience in the bags industry and founded High Spirit Commercial Ventures Pvt Ltd (HSCVPL) in 2010, a bags manufacturer and exporter. The company also owns leading other brands like Priority, Hashtag, Humty Dumty to cater to multiple segments in the backpack segment.
Jain was able to identify the gaps in the bags industry and found there was a great need for fashionable bags. He immediately grabbed the opportunity and made really big in the sector by becoming the fourth largest bags company in the world.
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The smart consumer of today knows how to explore price for value, the innovators and early adopters are more likely to shell out extra money
Increased productivity certainly leads to increased revenues for the organisation but that should also be regulated to investing in machinery, software upgrades and putting new processes in place
A large number of brands have recognized the huge opportunity in the evolving Indian consumer, though it's a long way before they actually reach the scale as their foreign counterpart
Indian buyers give huge importance to perception and value, quality and craftsmanship is the selling point but not the deciding factor for Indian buyers
The current market size of the backpackers and luggage backs of India is at INR 20,000 crore, whereas the domestic and export market of China is INR 3,00,000 crore
Introduction of GST, has been a boon for the industry which is witnessing a good growth after its coming into play