![]() Financial Daily from THE HINDU group of publications Saturday, May 07, 2005 |
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Marketing
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Strategy Corporate - Alliances & Joint Ventures UK footwear, apparel brand DAKS ties up with The Loft Our Bureau
Mumbai , May 6 DAKS, premium British apparel and accessories brand, has tied up with The Loft, one of the largest footwear stores in India, to sell its footwear in Mumbai and Hyderabad. According to Ms Reetika Mehra Dalal, Executive In-charge, Up-market Brands Division, Forbes Gokak Ltd, when DAKS test-launched its shoe range at Forbes stores, it had a very high "hit rate" and "we decided to get into the market in a big way". DAKS shoes will be sold at The Loft's Mumbai and Hyderabad showrooms. Ms Dalal said DAKS had a premium following and that its products would soon include golf footwear as well. Over the next few months it will be introducing leather accessories as well. She said the DAKS store at Inorbit Mall, Mumbai, had broken-even in six months that made the company confident about its association with The Loft in selling its shoe range. In the initial phase of the launch, The Loft has exclusive selling rights. It houses over 130 brands, including international brands. According to Mr Susil Dungarwal, Customer Care Executive and CEO, The Loft, the tie-up would create "value-addition for both DAKS and The Loft". He added that the strategy behind the store's business was to concentrate on footcare as well. Business, he said, also centred around educating customers on what footwear to buy and wear.
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