Business Daily from THE HINDU group of publications
Wednesday, Apr 09, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Apr 09, 2008 ePaper | Mobile/PDA Version |
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Marketing
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Retailing Web Extras - Leather Footmart plans retail formats at Future Group stores Purvita Chatterjee Mumbai, April 8 Footmart Retail India, the 49:51 joint venture company between Liberty Shoes and Pantaloon Retail, will bring in its retail formats at the Future Group-owned stores such as Big Bazaar and Pantaloon. There will be branded retail counters under Shoe Factory and Pairs (the retail formats belonging to Footmart Retail) to drive synergies in the footwear retailing business between the joint venture company and the Future Group. Mr Anupam Bansal, Director, Footmart Retail India, told Business Line said: “Currently, we are in discussions with the Future Group. In the next phase, we plan to have the Shoe Factory and Pairs retail branded counters, within the Big Bazaar and Pantaloon outlets, which would be managed by the joint venture company.” At present, Big Bazaar has its footwear section under the name Footwear Bazaar while Pantaloon’s footwear section is devoid of a brand name. Adds Mr Bansal, “Pairs would now stand for the more premium footwear collection in the Pantaloon outlets while Big Bazaar would have its less premium footwear collection under the name of Shoe Factory.” Big Bazaar gets its footwear supplied from a host of vendors including factory-surplus products, which are sold at a discount. The existing 18 Shoe Factory outlets have a similar profile to Big Bazaar as it stocks unbranded and branded footwear sourced from a variety of vendors in the ‘value for money’ segment. On the other hand, Pairs outlets stock the premium footwear brands and currently there are three outlets in Kolkata. “The average price of a pair of shoes at Shoe Factory is pegged at Rs 600 and we will be bringing in more brands into this multi-brand retail outlet, which would also be included in the Big Bazaar counters. Pairs is the premium retailing format which will stand for the Pantaloon footwear counter,” says Mr Bansal. Expecting to tap into the synergies in the footwear retailing business, Footmart Retail would now be in a better position to negotiate with the vendors. “The scale of buying would go up leading to greater volumes and increased margins in the footwear business. As our costs get reduced the top line would improve. We expect our turnover to grow from the existing Rs 25 crore to Rs 100 crore with this exercise,” says Mr Bansal. Besides, Liberty Shoes is also planning to create special lines for the big retailers and also its own retailing formats. “There has to be a differentiating factor between the outlets and we are in talks with retailers to create special lines for them,” added Mr Bansal. More Stories on : Retailing | Leather | Brands
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