Skech­ers to launch ap­parel col­lec­tion in In­dia; to open 500 new stores

Shoes & Accessories - - The Month That Was | Updates I India -

As it ex­pands op­er­a­tions, Amer­i­can footwear ma­jor Skech­ers is look­ing at open­ing up to 400 more exclusive out­lets in In­dia within five years. Skech­ers, which en­tered In­dia in 2012 through a joint ven­ture with Fu­ture Group, is also look­ing at launch­ing ap­parel and ac­ces­sories col­lec­tion by the mid­dle of next year.

It op­er­ates 100 exclusive out­lets in the coun­try that are com­pany-owned as well as fran­chises. “In the next five years, we should have 400-500 out­lets in In­dia. That’s the jour­ney we want to em­bark on. We should be adding any­where be­tween 25-35 more out­lets by end of this year,” Skech­ers South Asia Pvt Ltd CEO Rahul Vira.

As a pi­lot project, the com­pany had tested the mar­ket for its ap­parel line with a small range. “We plan to launch ap­parel and ac­ces­sories by mid of next cal­en­der year. It will be full range in ap­parel and ac­ces­sories such as bags, socks and caps,” Vira re­marked. “Launch, how­ever, de­pends on lot of things, such as our sup­ply chain, struc­tural changes at the stores which are pri­mar­ily de­signed for selling shoes.”

The com­pany is look­ing at clos­ing the cur­rent year with sales of over ` 500 crore. “We are grow­ing at the rate of 100 per cent year-on-year. In the first half of this year, we have al­ready done sales of ` 300 crore. We are look­ing at clos­ing the year with sales of ` 500 odd crore,” Vira stressed. Skech­ers had re­ported sales of over ` 220 crore in In­dia in the pre­vi­ous year. At present, the com­pany fully im­ports prod­ucts sold in the coun­try. When asked if the com­pany is look­ing at man­u­fac­tur­ing lo­cally in the near fu­ture, he was quoted: “Once we reach a cer­tain scale and size, the com­pany would look at op­tions of man­u­fac­tur­ing lo­cally.”

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