Travel gear brand Uppercase currently operates six exclusive brand outlets (EBOs) and is present in 2,076 general trade stores across 653 Indian cities
Bengaluru: India’s luggage and bag market is thriving, currently valued at around Rs 1,20,000 crore, according to reports. With the post-pandemic travel boom, luggage brands are seizing the moment through rapid retail expansion and innovative product launches.
Homegrown travel gear retailer Uppercase is one such brand, but what differentiates it from its competitors is that it is built on the cornerstone of sustainability and recycling.
Mumbai-based Uppercase was founded in 2021 by Sudip Ghose who brings more than two decades of experience in the industry. The company quickly gained market traction and made its general trade debut in early 2023. In August 2024, it opened its first two brick-and-mortar stores in Bengaluru’s Lulu Mall and Mumbai’s Phoenix Marketcity Mall in Kurla.
As of now, Uppercase has more than 250 stock-keeping-units (SKUs) across categories including backpacks, trolley bags, duffel bags and shoulder bags.
Revenue streams
Uppercase currently operates six exclusive brand outlets (EBOs) and is present in 2,076 general trade stores across 653 Indian cities. The brand is available on its direct-to-consumer (D2C) website, uppercase.co.in, as well as major e-commerce platforms like Amazon, Flipkart, and Myntra. It has also served over 110 business-to-business (B2B) clients.
“Our current sales mix is 40% online and 60% offline, with a strategic focus on further increasing the offline share,” Ghose told IndiaRetailing.
Both online and offline, the brand is experiencing strong demand in metro cities such as Mumbai, Delhi, and Bengaluru, along with positive responses in markets like Ludhiana, Lucknow, and parts of Kerala. Among its product categories, hard luggage serves as the primary revenue generator.
The bag brand targets consumers aged 18 to 35, especially in tier-1 and metro cities. “Our current consumer base is mainly divided into two segments: ‘savers’ and ‘seekers.’ Additionally, we cater to YOLO (you only live once) consumers, who are adventurous, value-driven, and style-conscious,” he added.
Capital Raise
In March 2022, the company secured $1.5 (Rs12.45 crore) million in seed funding from Emam Holdings. In July 2022, it raised an additional $7 million (around Rs 59 crore) in a pre-series A round led by Sixth Sense India Opportunities III, with participation from existing investors, including Volarado Ventures and Emam Holdings.
In August 2024, venture capital firm Accel invested $9 million (Rs 75 crore) in Uppercase during its Series B funding round, raising Uppercase’s total funding to Rs 150 crore.
Sustainability in Operations
Uppercase stands out from other luggage manufacturers through its approach to product creation, utilising a blend of virgin polycarbonate and recycled polycarbonate to produce hard-backed luggage.
The company is committed to creating eco-friendly products using recycled materials, emphasising waste reduction. So far, the brand’s initiatives have achieved environmental savings equivalent to 185,881 kg of carbon emissions, 41,094 litres of oil, the recycling of 2.33 million plastic bottles, and 840,000 polycarbonate mobile cases.
Currently, the company produces around 30,000 units of hard luggage each month and aims to increase production to between 60,000 and 75,000 units per month.
Plans for Growth
In the short term, Uppercase plans to open six new stores in November, with the goal of reaching 30 to 35 stores by the end of the current financial year (FY25).
“Looking ahead to the financial year FY27, our goal is to reach a milestone of 100 stores. This expansion will target a balanced mix of tier-1, tier-2, and select tier-3 cities, strengthening our presence in urban hubs while tapping into high-growth areas across India,” said Ghose.
The retailer favours malls over high streets for expansion, citing malls’ higher, more consistent foot traffic, controlled environment with amenities, events, and improved brand visibility through proximity to complementary stores.
In the next two to three years, the brand aims to double its number of general trade stores and plans to increase its point of sales to 4,000 in the coming years.
The retailer said it is also considering expansion into international markets and will seek opportunities when the right moment comes.
In terms of financial results, Uppercase has achieved a turnover of Rs 100 crores in FY24. “Looking ahead, our vision is to grow significantly, targeting Rs 250 crores in the next two years, with the goal of reaching Rs 500 crores in the near future,” added Ghose.
