Level of discounting in India is not sustainable, says Samsonite CEO

Discounting levels in India's luggage market are unsustainable, affecting profitability, says Samsonite CEO. Samsonite surpassed VIP Industries in revenue last fiscal year. New entrants like Mokobara and Uppercase offer discounts impacting industry profits. Despite growth, VIP's profits fell sharply. Samsonite reported a sales and profit increase. India's luggage industry growth will reduce due to a high base and increased competition.