Relaxo Footwear expects sales to improve in FY 2022 despite Covid-19 disruptions
Footwear major Relaxo is expecting its sales to improve during the financial year, as against last fiscal year amid the second wave of Covid-19 disruptions.
Relaxo Footwear had ramped up its production in the early part of this year and expects the surplus production coupled with learnings from the last lockdown to help it improve its sales learnings during the current financial year.
The company is banking on tier 2, 3, 4 cities to drive growth and expects strong sales in the open footwear, sneakers, and athleisure categories going forward despite the Covid-19 interruptions.
“Immediately, we are not anticipating a complete lockdown. But, there will be containment zones, restrictions, some shutdowns here and there. We have seen that last year and are preparing ourselves accordingly this time,” Ramesh Kumar Dua, managing director at Relaxo Footwear, told Businessline.
“Relaxo is expecting better sales in FY22. Rural and upcountry markets will continue to fare better than urban ones. Though a majority of Relaxo’s business is done through its distributors and retail stores, it is strengthening its e-commerce presence,” he added.
Relaxo is one of the leading footwear makers in India and sells under brands Sparx, Flite, and Bahamas. It currently has over 300 exclusive-brand outlets across the country.
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