Business Daily from THE HINDU group of publications
Thursday, Apr 17, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Apr 17, 2008 ePaper | Mobile/PDA Version | Audio |
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Marketing
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New Products & Services Crocs India opens exclusive store in Pune Our Bureau Pune, April 16 Crocs India Pvt Ltd (CIPL), a subsidiary of Colorado-based high-end footwear retailer Crocs Inc, opened its first exclusive store in India at Pune on Wednesday, and plans to roll out a total of 14 such stores in cities across the country by September. The company, which also markets its range through 250 other retail points, including outlets of well-known footwear brands, is targeting sales of 250,000 pairs of footwear in India by the year end. Worldwide, it sold 50 million pairs earning revenue of $ 843 million last year, and expects to touch $1.2 billion this year. Mr Mark Langhammer, Managing Director, CIPL, said that the company was looking at creating a new market segment for its product range. Currently, it is sourcing products from manufacturing facilities overseas, and will look at setting up a facility in India once volumes picked up, he added. Elaborating upon the retail roll-out plan, Mr Murali Desingh, Deputy Managing Director, said that exclusive, company-owned stores would be opened at Delhi, Mumbai, Hyderabad, Chennai and Kolkata over the next few months. “We will look at franchises at a later stage,” he said. Crocs Inc currently has nine manufacturing facilities in seven countries worldwide, including three in China. Characterised by bright colours and a cheese-with-holes design, Crocs footwear, moulded from patented material Croslite, costs from Rs 995 (for kids wear) to Rs 1,495 for the adult range. More Stories on : New Products & Services | Leather
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