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Footwear brand Liberty has decided to expand aggressively in the South, especially in Tier-II cities.
Speaking to Business Line , Mr Anupam Bansal, Executive Director, Liberty Retail Revolutions, said there is a huge opportunity in that market as the consumer is tired of what is available and Liberty is seen as a fresh brand. Plus, real estate pricing is better.
Custom-made
“We haven't repackaged what we sell up North, and we don't intimidate the common man, but we're aspirational,” claims Mr Bansal, who believes the retail experience will make a difference to his business in these towns where there is much disposable income.
The range of footwear priced in these stores is Rs 99-3,000. To suit South Indian preferences, the footwear is mostly open, has toe rings and made to suit broad/big feet and uses absorbent material as the climate is humid, he explained.
The company intends to set up 20 stores, one a month in Tamil Nadu and Karnataka each. It recently opened stores in Salem, Villupuram, Coimbatore and Madurai. Tiruchi and Nagercoil are next.
It has three stores in Chennai and 30 in Bangalore. It expects to invest Rs 40-50 lakh in company-owned stores.
Bets on South
Currently, it has 350 exclusive showrooms of which 100 are company-owned and the rest are franchised. It is sold in over 6,000 multi-brand outlets. The North brings in 70 per cent of the revenue but both regions could contribute equally in the next 2-3 years, Mr Bansal said, adding that year-on-year growth in the South was 100 per cent.
The footwear industry is estimated at Rs 15,000-20,000 crore, of which the organised market accounts for 20 per cent.
Bata is the top player in the market, and Liberty is number two, with Rs 310 crore in wholesale sales, Mr Bansal said.
The group, which has six factories in India that can turn out 50,000 pairs everyday, operates in over 25 countries including France, Italy, Germany, the US, the UK, Thailand and Qatar.
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