Companies

Sreeleathers to step up footwear sales online

Shobha Roy Kolkata | Updated on August 25, 2021

It is looking to boost sales after recording a drop in turnover in FY21 due to Covid-induced lockdown

Sreeleathers Ltd, the Kolkata-based footwear and leather accessories company, which had seen a near 52 per cent drop in revenues in FY21 due to Covid-19 induced lockdown, is expecting stable sales during the current fiscal.

For the year ended March 31, 2021, turnover dropped to ₹83 crore, as compared to ₹173 crore in the year ago period.

The company is focusing on ramping up digital presence to boost sales. It has also been undertaking product diversification and looking at a sustainable range of footwear and accessories. According to Rochita Dey, Director, Sreeleathers, said, “Pre-pandemic, our festive sales would start nearly three months before Durga Puja and there used to be long queues outside the stores. We do not expect that kind of long queues this year as priority will be on health and safety of both consumers and employees. But we expect sales coming back by Q3 of FY23,” Dey told BusinessLine.

The company has 41 stores spread across 10 States.

Focus on digital

Sales through digital platforms grew by more than 60 per cent in FY-21 over the same period last year and accounted for around two per cent of the company’s overall sales. During the period April-August 2021, digital sales jumped by more than 125 per cent as compared to the same period last year.

Also read: Sreeleathers looks to expand its exclusive stores

“There is a need to connect with consumers and we are planning to have regular digital activation programmes,” she said.

Talking about product diversification, Dey said the company has launched a ‘vegan line of footwear’ for consumers who are conscious about sustainability and environment.

“Consumption patterns changed and people are looking for variety in their closet. We launched the vegan line keeping such consumers in mind as it will be sustainable and good for the environment. But this calls for educating consumers and the timing is not right now (due to the pandemic) but we hope to launch it in full vigour (soon),” she said.

Published on August 25, 2021

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