Mufti to expand footwear distribution
today Dec 7, 2018
Mufti will expand its recently launched footwear line and aims to expand its distribution from the current 100 stores to over 500, including multi-brand-outlets.
After launching a footwear line in August this year, the menswear brand Mufti plans to further expand into the product category, seeing a growth opportunity. The brand aims to become an Rs 1,000 crore ($150.3 million) brand in the next three years and believes that footwear will help it to achieve this.
Seeing a rise in demand for casual yet fashion-centred men’s footwear, Mufti’s range of shoes includes faux leather sneakers and athleisure style running shoes. The current footwear collection is priced between Rs 3,299 to Rs 3,999 and was first launched in the top 100 ranked Mufti stores. The brand will continue to expand its footwear product offerings alongside expanding its distribution into both flagship stores and multi-brand-outlets.
The brand is not only expanding in the footwear market and also aims to tap into the increasingly popular athleisure market. Mufti will launch its athleisure clothing and accessories range in the summer of next year.
For the current fiscal year, Mufti expects to reach a revenue total of Rs 400 crore. The brand has also reported that it is profitable.
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