Smaller cities, bigger opportunities

He said that there are big opportunities in smaller, Tier 3, 4 and 5 towns such as Igatpuri near Bombay where new wealth creation is in excess compared to wealth getting created in large markets.

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In the ₹ 5000 crore luggage market in India, the unorganized segment has always been bigger than the organized, with nearly 50-60% belonging to former.

Dr Tainwala said that people living in smaller towns, who are used to buying unorganized luggage, are offered a branded product even at a 15-20% price premium, they will go for it.