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Clarks Future Footwear Ltd, a 50:50 joint venture between Kishore Biyani promoted Future Group, and UK-based Clarks, has said that the company is gearing to cater to the growing demand for premium footwear.
The joint venture company, which plans to set up 50 stores by 2013, said it has priced its shoes competitively to find a firm foot.
“India has been on our radar for a long time. We have been sourcing from here for a long time. We will be establishing retail outlet through our joint venture,” Mr Andrew Martland, Director, International Development Clarks International said. Future Group and Clarks had entered into joint venture in 2009.
The £1.4-billion Clarks has said that its contract manufacturing facility in Chennai and Agra will also help it scale up its sourcing both for domestic and international market.
“We expect India to be one of top five markets for Clarks in the next five years. Currently we source about 2.5 million pairs of shoes annually from here and intend to double that in the next three years,” he added.
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